Charts 05-27: 3PDH point #23 approaching?

We are pressing north this morning in what looks like another touch of the top wedge trendline at about 1927 SPX on June 3rd.

If that move completes a very bearish ending-diagonal wedge, then the "Three Peaks and a Domed House" model suggests that we look for the neckline for a big head and shoulders that will cement this as a long-term top.  The 1737 low works better for this than the 1814 low.  This would allow us to retrace back up to the critical level of 1850 before rolling over again.

If we don't try to force a fall crash into the current timeline, the 11/20 major Bradley model turn could give us a B-wave high instead of a low.  It certainly looks more proportional per the 3PDH model.

SPX 05-27

VIX is headed for a 10-handle, which is a good thing.

VIX 05-27