There are some quoting issues in your script and the way you are
starting the sub shell is invalid syntax.
Also you should make sure, that there is no trailing whitespace or other
# quote the "true"
while [ "$status" != "true" ]
# use $(...) to start a sub shell
status=$(wget -q -O - http://server)
# add >> << to make extra space visible. use quotes
echo "Sleeping for 5 sec";