Wilshire 5000 Trading Into Important Inflection Point!

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by Kimble Charting

When investors want to get a sense of the broader U.S. equities market, one index they analyze is the Wilshire 5000. The Index is made up of all American stocks actively traded in the U.S.

Simply put, this broad index is a gauge of market health and can provide insights into trends and potential reversals.

We look at the Wilshire 5000 today because it is at a critical inflection point.

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As you can see on the long-term “monthly” Wilshire 5000 chart, the broader market has been in a strong up-trend. And the sharp turn higher out of the March 2020 low has sent the index soaring toward to new heights.

It is currently testing the top of a rising price channel – marked by each (1) – that goes back to the early 1980’s. This test or major price resistance comes into play at (2). Will it breakout? Take a breather? Reverse course and send the market lower?

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Inquiring minds want to know…

No doubt about it, what the index does at (2) will send important clues to investors about the next move in stocks.

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

 

 

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