![S&P 500 forecast for the week of July 7, 2014, Technical Analysis S&P 500 forecast for the week of July 7, 2014, Technical Analysis](https://c.mql5.com/6/0/splash-453.jpg)
![Sergey Golubev Sergey Golubev](https://c.mql5.com/avatar/2012/12/50D09349-3D90.jpg)
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The S&P 500 rose during the course of the week, even though we only had four sessions to work with. We close at the very high as of the week, and we believe that this market is in fact going to continue to go higher. However, we recognize that the 2000 level is just a bit above year, and could in fact be resistance based upon the large round number. However, we certainly see no reason to sell this market, so we are buying supportive candles, or a close above the 2000 handle which would signal that the next leg higher is about to begin.