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S&P 500 forecast for the week of June 27, 2016, Technical Analysis

By:
Christopher Lewis
Updated: Jun 26, 2016, 10:55 UTC

The S&P 500 had a volatile week, going back and forth from the 2120 level on the top, and the 2072 level on the bottom. That being the case, the

S & P 500 weekly chart, June 27, 2016

The S&P 500 had a volatile week, going back and forth from the 2120 level on the top, and the 2072 level on the bottom. That being the case, the indices seems as if it is going to continue to grind sideways overall, perhaps with a slightly negative tone. Short-term strategy could be smart way to play this market, as the short-term sellers would more likely be encouraged for a bearish sentiment after United Kingdom decision to leave the EU. If we did break down below the 2000 level, that would be an extraordinarily negative sign and could really turn the tide.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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