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 two more supports, on 0.1% above-average volume and on falling momentum, thus accelerating its fall toward its EMA40. If it breaks the latter, the next stop could be its uptrend support from July 2010, which would be around the vicinity of 1175-1180.
The S&P 500 broke two more supports, on 0.1% above-average volume and on falling momentum, thus accelerating its fall toward its EMA40. If it breaks the latter, the next stop could be its uptrend support from July 2010, which would be around the vicinity of 1175-1180.
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
