5.9 C
New York
Friday, November 29, 2024

Broadest Of All Stock Indices Testing Critical Support, Says Joe Friday!

Courtesy of Chris Kimble

One of the broadest indices in the states remains in a long-term bullish trend, where a critical support test is in play.

The chart looks at the Wilshire 5000 on a monthly basis over the past 35-years.

The index has spent the majority of the past three decades inside of rising channel (1). It hit the top of this multi-decade channel to start off the year, where it created a monthly bearish reversal pattern.

Weakness the past 2-months has the index testing rising support and the December 2018 lows at (2).

Joe Friday Just The Facts Ma’am;

Bullish message = support holds at (2).

Bearish message = The index breaks 2018 lows at (2). 

To become a member of Kimble Charting Solutions, click here.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

156,447FansLike
396,312FollowersFollow
2,320SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x