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

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.