S&P 500 going parabolic again?

It looks like the 5/29 Bradley turn marked an important local low.  It was on a Full Moon, which should have been clue that the turn would be a bottom.

Now it looks like the S&P 500 is going parabolic again.

Next week's FOMC happens to fall on a New Moon.  We're less than 4% away from making new all-time highs on the index -- we could easily make it there by mid-session next Wednesday.

An FOMC can give us a reversal without gaps.  The February decline left giant holes in the chart, as well as an excessive RSI.  This parabolic needs to make a marginal new high, fill the existing gaps, while putting in a lower, divergent RSI.

$IRX is only 10 bps from glory and another .25 hike, maybe the one to break the camel's back.

SPX daily 06-06

Charts 9-9: No breakdown just yet

We are still well inside the ending-diagonal bearish wedge shape up here in the clouds, still looking for that elusive final move north to mark The Top of It All.

September FOMC looks like one last hold on the rate question, although I suspect that the Fed's dead hand will finally be forced in the November meeting, for great justice!

all you need to know about the S&P 500

We're roasting and eating our neighbors for Christmas dinner this year.  I'm looking forward to long pig served with Czech bread dumplings, washed down with a sharp Pilsner or a perhaps a searing Pacific Northwest IPA.