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 jumped back inside its previous sideways trading range on strong momentum but on average volume. It broke 3 resistances in the process and is now knocking on another one (1), 42 points or 3.3% away from the next one (2).
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
