lady on parallel bars pic

This picture caught my eye, as some think certain things are hard to accomplish, due to age.¬†¬†Speaking of “age and accomplishments,” the chart below of the Wilshire 5000 came to my mind.

wilshire 5000 1 year falling resistance test march 28

CLICK ON CHART TO ENLARGE

As mentioned above, this very broad index remains inside of 5-year rising channel (A), as the 5-year trend remains up (higher lows and higher highs).

Over the past year, the Wilshire 5000 has made a series of lower highs and lower lows, inside of falling channel (B), as the 1-year trend remains down (lower highs and lower lows).

The rally over the past 6-weeks, now has the Wilshire 5000 testing 1-year falling resistance at (1) above. This is a big test, as the trend does remain down. For the 6-week rally to have a chance of continuing, this index needs to take out resistance.

To change the 1-year trend, the Wilshire 5000 needs to “accomplish a breakout!” If it does, it would send a positive message to stocks in the states and potentially beyond. Keep a close eye on the broad index friends, what it does here, could become a big deal to both bulls and bears!

 

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