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 is still flat, on 7.9% below-average volume but on now falling momentum. The index is also squeezed between a resistance and 2 supports (EMA10 and upcycle from August 2010).
The S&P 500 is still flat, on 7.9% below-average volume but on now falling momentum. The index is also squeezed between a resistance and 2 supports (EMA10 and upcycle from August 2010).
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
