Bob’s Stock Market Weather Forecast – BSMWF – May 24, 2017 –

In the April Newsletter I suggested the stock market correction would end soon and news highs north of 2400 would be reached. The forecast has been working out but the 2400 S&P 500 barrier is providing a solid barrier for this bull market. You recall that 2400 has long been my forecasts for the high of Big Segment 5 with a possible extension to 2460 – 2485 should a breakout occur. To view the chart on the Big 5 Segment please read again the April newsletter as not much has changed.

So far there have been a number of unsuccessful tries for a sustainable breakout with the highest S&P 500 price of 2406 last week before the Trump Special Prosecutor announcement lead to a big one-day nasty decline. Click here for more.