Courtesy of Doug Short.
Here’s the latest weekend update from Serge Perreault, a Chartered Professional 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 last week’s low on falling but near-support momentum and on 16.1% below-average volume. If it breaks its May 13 low (1626 or – 2.5%), the correction could continue until it reaches its EMA10 (1608 or -3.5%). |
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
(c) Serge Perreault CPA Inc.
