Getting Technical: Weekend Update
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 2 supports, including its EMA10, on 11.3% above-average volume and on falling momentum. It is now about 15 points or 0.8% away from its uptrend support and 48 points or 2.6% away from its EMA40.|
Note: For newcomers to technical analysis, here are brief explanations for the two key indicators that Serge features:
(c) Serge Perreault CPA Inc.