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Courtesy of Doug Short
Here’s the latest weekend update from Serge Perreault
, a Chartered Accountant and market technician located near Montreal, Canada. Serge has been following the U.S. market in a series of weekly charts. Here is his update on the S&P 500.
The S&P 500 broke a resistance on strong but near-resistance momentum and on average volume for the week. It is now in a triangle formation similar to April 2010.
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
- ROC (Price Rate of Change)
- RSI (Relative Strength Index)
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