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Friday, March 29, 2024

Getting Technical: Weekend Update

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 the support of a sideways trading range dating from January 2011 and its EMA40, on 49% above-average volume but “saved” its uptrend support from July2010, on falling but near-support momentum.


 

 

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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