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THE STOCK MARKET UPDATE September 13, 2017

David H. Weis

David H. Weis

Todays high in the S&P was made Tuesday evening at 6:05 pm ET and it was re-tested in
the closing minutes of the day session. The upwave to the closing high spanned nine hours
on the heaviest wave volume of the week. The bullish explanation for this behavior says
absorption is taking place. The bearish story says the lack of upward progress means the
market is encountering supply. We will know the answer tomorrow when we see the
amount of upward follow through. The shallowness of the overnight pullback, which held
around Mondays high, and the strength of the uptrend support the bullish view.

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

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