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THE STOCK MARKET UPDATE February 14, 2018

© David H. Weis

© DH Weis

The S&P fell 50 points in the five minutes after the CPI report was released. It then rose
over 70 points throughout the rest of the session. The market is fast approaching important
turning points that were touched last week. They form a zone between 2727 and 2763.
(The latter price is last week’s high.) A move above 2727 could create an upthrust and
lead to another steep down-swing; therefore, the market is approaching a dangerous area.
As previously stated, if the market holds in this resistance zone and moves laterally, it will
suggest absorption is taking place prior to additional upward progress.

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

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