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 now testing 2 resistances, on 1% above-average volume and on now ascending momentum. It should be noted that the DJIA is showing a similar pattern except that its volume for the week is 20% above average.
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
