Yesterday I posted a chart from Chris Kimble showing three indexes — the Russell 2000, Nasdaq 100 and S&P 500 — in intimate contact with major resistance. All three closed the day with significant declines, disappointing traders expecting a repeat pattern of major gains on the first business day of the month. This morning Chris calls our attention to the lines of resistance in yet broader indexes, the NYSE Composite and Wilshire 5000.

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Chris comments: NYSE and Wilshire 5000 have both reached long term resistance. If tops are a process and bottoms are events, what these two do at such key levels should determine the next big move!