Below looks at the Wilshire 5000, one of the broadest stock indices in the world. This key index is undergoing a key “strength test” right now!
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Line (1) became key resistance for months and months in 2015.
A couple of months ago the Wilshire Index broke above key resistance, which was a positive sign of strength. Softness of late has taken the index to test old resistance as new support at (2).
The Global Risk On trade wants/needs support to hold at (2). If it does, it would send a positive message to stocks in the states and potentially globally.
If the Wilshire is to remain strong, support needs to hold at (2)!
We will be addressing this key pattern today with our Premium and Global Dashboard members.