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 3 resistances, on 13% below-average volume and on still mixed momentum. It remains inside a sideways trading range, about 20 points or 1.6% away from the October peak resistance (1) and 50 points or 4% away from the downtrend resistance (2).
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
