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The health/condition of the broad market can not be overlooked or overstated. In “Focusing” on the broadest measures of the stock market (NYSE/Wilshire 5000), the chart above reflects that they both remain inside of large flag/pennant patterns.
A great deal of attention is being focused on the S&P 500 as it deals with the 800 pound resistance line (see post here). From a even broader market perspective, don’t lose sight or focus on the NYSE/Wilshire patterns.
Should these NYSE/Wilshire break resistance…a VERY GOOD signal!