The NYSE, a laggard compared to $SPX, $NDAQ, et al, is just points away from printing a higher high (Sep/Oct high), but also bound to the peak of a potentially dangerous ascending wedge. Should a higher high be printed, this would be very bullish for the market in general. However, if it does indeed top here, it suggests a strong reversal is likely across all the major indices. Hardly a coincidence, given that next Wednesday's FOMC notes will reveal whether or not a July rate cut is coming. The market has currently priced in a 25bp rate cut in July. Pausing, or hiking would be incredibly bearish and probably spark a prompt sell off.