Here's the latest in a series of update from Serge Perreault, a Chartered Accountant and market technician located near Montreal, Canada. Serge anticipated the S&P 500 pullback that began in January, and he has nicely annotated its progress and possible recovery:
The S&P 500 closed the week fractionally lower (down 0.4%) from last Friday and remains stalled at the 10-week moving average. Serge's latest chart speculates on the need for the ROC momentum indicator to break above downtrend resistance for the longer-term market recovery to resume.
Click the chart for Serge's full commentary.
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