S&P 500 cash weekly competition for 2013

Hi guys,

Here is week 11th forecasts from most bullish to bearish standings.

Quite a few absentees but with the summer holidays approaching people I'm sure have sun sea and sangria on their minds.

Wishing you all best of luck. (y)
 

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Wackypete2 becomes the first person to win 3 gold medals in one QTR :clap::clap::clap:.

Amazing stuff. Well done Wacky - :clap::clap::clap:

Pat and Mr Average take silver and bronze on this weeks podium.


.................................................................... WackyPete2
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Sorry Pat but - 2nd and 3rd places often get forgotten. This week is special :cheesy:


However, points do count and Papa Pat is in 2nd place only a pip away. There is now 2 weeks left for the end of QTR-2 and 5 bodies are in with a chance of winning.
 

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NEW YORK, June 14 (Reuters) - U.S. stock index futures inched lower on Friday, with Wall Street set to rack up a loss for the week, as concerns linger over whether world central banks will prematurely rein in stimulus programs that have boosted equity markets this year.

Uncertainty over the longevity of monetary policy around the world has roiled markets recently and nerves were stretched further earlier in the week when the Bank of Japan decided to hold policy steady.

The prospect that the accommodative stance of central banks - particularly the Federal Reserve - could be pulled back sooner than expected has prompted traders to rethink this year's bets that have been built around that support. Stocks have fallen during three of the past four days, and heading into Friday's session, the S&P 500 is down 0.4 percent on the week.

Attention is now focused on the Fed's policy-setting meeting next week. Investors will be looking for insight into how soon the central bank will wind down its monthly $85-billion bond purchase plan.

"Markets are looking at next week's Fed meeting to be the big driver in the short-term," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

"Bernanke has really increased the amount of transparency in the Fed's thinking," said Forrest. "This isn't going to be a jack-in-the-box surprise Fed, it's going to be a Fed that clearly indicates what it's going to do. That's why people are looking to this meeting in particular."

On the economic front, investors await data on producer prices, industrial production and consumer sentiment.


S&P 500 futures fell 1.6 points but were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones (DJI: ^DJI - news) industrial average futures was off 12 points, and Nasdaq 100 futures lost 1.75 points.

Boeing Co (NYSE: BA - news) is poised to launch a larger member of its 787 Dreamliner jetliner family to meet demand for long-haul travel within Asia and other long-haul routes, sources said.

Smith & Wesson Holding Corp's shares could get a boost after the gun maker raised its outlook for the fourth quarter.

Broadcast Music Inc (BMI), a songwriters' rights organization, is suing Pandora Media (NYSE: P - news) after the Internet radio company rejected a request to pay a higher license fee for playing songs across various devices.
 
On the daily charts - since May, I'm seeing lower highs with support at 1600.

Falling wedge, if 1600 support fails, then 1560-80 is the next region to test support imo.

MACD indi., showing oversold so there may be yet another bounce off 1600, but I'm going with the same old 1609.5 for another week. (n)
 
Well done last week wackypete2 - great stuff.
(y)

It's only fair to warn my fellow competitors that, based on recent results, I've modified my strategy very slightly. Not a lot, obviously, because it's pretty good as it is. Just a case of fine tuning with experience - and I expect it to pay dividends very quickly. Follow me if you want folks but, remember, it takes something special to be as good as me. Like the athlete sitting 3rd or 4th in the field and waiting to strike at the last bend, I expect to romp home with a clutch of golds in the closing stages of this quarter!
:cheesy:

1,594 for me please this week Atilla.
Tim.
 
I still see a higher low and a lot of support at both 15000 Dow and 1600 S&P.
Until there is a close under those levels, I don't see this breaking down just yet.
1664 for me.
 
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