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 knocking again on the resistance of a sideways trading range formation dating back to January, on 7.6% above-average volume but on mixed & near-resistance momentum. Will it break it as it did in the week of April 25?
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
