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Getting Technical: Weekend Update

By Chart School
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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 are his updates on the S&P 500 and the Dow.

This week, the S&P 500 bounced off its support and broke a resistance on 3.1% above-average volume and on improving momentum. However, the RSI is approaching its resistance for the 4th time since last April.

The Dow continued its ascension, but on 28.7% below-average volume and on near-resistance momentum (RSI in overbought territory again).

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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