Here's a weekend update from Serge Perreault, a Chartered Accountant and market technician located near Montreal, Canada. Serge anticipated the correction in the S&P 500 in this previous post from January 19th, which included a couple of targets: -3.3% and -5.7%. At the end of the week the index had declined 5.1%.
The earlier chart annotated the uptrend support from the S&P 500 low in March 2009. Serge's new chart switches to a weekly view and highlights the downtrend support and resistance from the market peak in October 2007.
Here's a weekend update from Serge Perreault, a Chartered Accountant and market technician located near Montreal, Canada. Serge anticipated the correction in the S&P 500 in this previous post from January 19th, which included a couple of targets: -3.3% and -5.7%. At the end of the week the index had declined 5.1%.
