Here's the latest in a series of weekend perspectives from Serge Perreault, a Chartered Accountant and market technician located near Montreal, Canada. Serge has been following the S&P 500 in a series of charts since mid-January: Jan 19, Jan 24, Jan 31, Feb 5, Feb 12, Feb 19, Feb 27, Mar 6, Mar 19, Mar 26, Apr 2, Apr 9, Apr 17, Apr 24 and Apr 30.

The S&P 500 declined 6.39% for the week, which puts the index 8.74% below its interim high set April 24th, when the index was up 9.16% for the year. The year-to-date performance is now -0.38%. The top chart is a daily view of the S&P 500 since the 2009 low. Here Serge shows levels of support below the current price. See his annotations for additional details.

The second chart is Serge's monthly view going back ten years. Here he points out some similarities with March 2004 and January 2008.

Click the charts for a close-up view and Serge's detailed annotations.

• ROC (Price Rate of Change)
• RSI (Relative Strength Index)