THE STOCK MARKET UPDATE May 3, 2017

David H. Weis

March 21st was the most threatening day of this year. On that day, the S&P fell 40 points
from its intraday high at 2378 on the heaviest volume of the year. It took 24 days before
the market closed above this high. In the last six sessions, prices have held mostly on top
of 2378-2375 highs. The S&P still has a reasonable chance to re-test 2401. Today it washed
out the lows of the past four sessions and reversed to close near the high. Once again, the
market has closed in a minor spring position. Now we wait to see if there is upward follow
through.

www.WeisOnWyckoff.com dhw@weisonwyckoff.com Tel 617.489.9155