Here's the latest weekend update from Serge Perreault, a Chartered Accountant and market technician located near Montreal, Canada. Serge has been following the S&P 500 and other major indexes 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, Apr 30, May 7, May 14, two for May 22: here and here.

The S&P 500 closed a volatile week up 1.47%. It is 10.50% below its interim high set April 23rd, when the index was up 9.16% for the year, which puts is in traditional "correction" territory (a decline of more than 10% from an interim high). The year-to-date performance is now -3.85%.

The first chart is a weekly view of the S&P 500. The second chart is a weekly view of the Dow Jones World Stock Index.

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

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