The Wilshire 5000 stock market index is a broad gauge of the equity market.
During volatile / corrective times like today, we can analyze it to see where we are at.
The chart below is a “monthly” chart of the Wilshire 5000.
As you can see, the Wilshire has remained within a 30 year rising channel (1).
Back in September, the broad equity index created a monthly bearish reversal at (2) before breaking below 9 year rising support in December (3).
The latest rally has the Wilshire kissing the underside of this broken trend line.
Bulls DO NOT want to see another reversal lower here. If selling begins to accelerate from (3), then bulls could be in trouble. Stay tuned!
Wilshire 5000 Index “Monthly” Chart
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