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Whether you own them or not, I believe it is important to keep one eye on the two broadest index’s, the NYSE Composite and Wilshire 5000. Let me make this clear…the trend on both remains up at this time!
Both are facing multi-year resistance levels and may have formed bearish rising wedges that suggest prices will fall two-thirds of the time.
Joe Friday…The rising wedges become a little extra important due to the weekly advance/decline line is breaking support!