Wilshire 5000 Hits New Lows After Creating Bearish Reversal Pattern

by Kimble Charting

The Wilshire 5000 is a must-follow stock market index that measures the market in its broadest form. So when this index flashes caution, it’s best that investors pay attention.

For the past 30 years, the Wilshire 5000 has traded within a very broad channel (1). In September, the index hit the top of the channel and reversed lower (2). This price action created a bearish monthly reversal pattern, triggering caution.

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It is currently making new 2018 lows (below the February lows) while breaking down through important trendline support off the 2009 lows (3).

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This comes after creating a bearish monthly reversal pattern off the top of the long-term channel. Careful out there.

Wilshire 5000 Monthly Chart-

This article was first written for See It Markets.com. To see original post CLICK HERE





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