the Wilshire 5000 is probably the single-most representative index of the US stock market. looks like a break of this falling wedge will most likely result in a failure of the recent breakout to new highs. sometimes these failures will only take prices slightly below the key support area, sucking in some more shorts and shaking out the last of the weak-handed longs before continuing higher but a failure to hold these new highs could also prove to be a bull-trap/fake-out. hopefully, the market action following a breakdown (if it comes) will give us clues as whether to buy the dip so sell into it. regardless, for the time being i still believe the R/R is skewed towards being net short vs. net long (or market neutral/cash for more conservative traders/investors).
