Weekly forecast for S&P 500

[koolblue]

Since i believe a key low may be coming around the end of the week , i'll say 1034

 

[wackypete2]

I shook my magic 8 ball and asked it where the market is going next...
Response was: How the f**ck do I know

Peter

 

[wackypete2]

so, i''l lguess 1091

Peter

 

[Pat494]

so, i''l lguess 1091

Peter

Have a feeling it could be your week next week Peter

 

[wallstreet1928]

Since i believe a key low may be coming around the end of the week , i'll say 1034

agree

i would go for 1044 - 1030

1030 on wick possible

H&S formation looks like its off the table for now as especially after the double whammy of bad news

 

[hwsteele]

I shook my magic 8 ball and asked it where the market is going next...
Response was: How the f**ck do I know

Peter

Sounds like your magic 8 ball has anger issues.

 

[hwsteele]

Lets see...

Nice zig zag pattern down from the end of April to the end of May.

The retracement in the zig zag made it back past 62%

That pattern is complete and we have been in a 50 point range sideways since.

Speaking of cycles I have a calculated cycle that is a BIG one that came out on May 24th the day before that nice spike low.
I do believe that will be the low for the market for a while.
AS the way I calculate the cycles in this instance does not tell me if it's a high or low I was thinking in the early part of the year that the end of May was going to be the high before the market broke down some but looks like it's the bottom now.
Now if I am wrong and the market does break below the tax form 1040 low we could see it around 930 or so in not too much longer.

BUT


I will go out on a limb and say 1140 for Friday the 11th.:clover::?::clover:

 

[dpinpon]

Congrats to PAT, awesome forecast, just shy above. If a pull back is underway, believe should be a very short lived one. Bears now getting anger issues and heading to 1025.
Ill keep an eye closely on this thread, I see more traders coming in enhancing with tecnical opinions this thread. Sorry for my english, its not my mother tongue. Have a terrific weekend to you all.:cheesy:

 

[Pat494]

Will be interesting to see how koolblue and Buy The Dips do next week with their unusual methods

welcome to Wall Street 1928. From the look of your thread you will be adding to the competition and we may learn something too

 

[dpinpon]

Thanks Wallstreet, already joined in to your Market Analysis Chat. Your web pages look real nice and helpful, sure will learn more and keep the good work.

 

[hwsteele]

I hope every one is ready for that 55 point move up tomorrow!!:whistling

 

[Pat494]

Congrats to PAT, awesome forecast, just shy above. If a pull back is underway, believe should be a very short lived one. Bears now getting anger issues and heading to 1025.
Ill keep an eye closely on this thread, I see more traders coming in enhancing with tecnical opinions this thread. Sorry for my english, its not my mother tongue. Have a terrific weekend to you all.:cheesy:

Thanks,
Nothing much wrong with your English ! and whole lot better than my Chinese

 

[hwsteele]

Will it be Pat or Pete this week?
Too early to tell as of yet but it could go either way right now.:-0

 

[hwsteele]

so, i''l lguess 1091

Peter

Well congratulations good man!
I am ordering a magic 8 ball as I type this!:cheesy:
Right smack on the money!!:clap:

 

[wackypete2]

Well congratulations good man!
I am ordering a magic 8 ball as I type this!:cheesy:
Right smack on the money!!:clap:

hehe. my magic 8 ball just shot up in value, even with the anger issues! :smart:

Ahhh, the life of a trader: Guru one week, goat the next.

Peter

 

[hwsteele]

hehe. my magic 8 ball just shot up in value, even with the anger issues! :smart:

Ahhh, the life of a trader: Guru one week, goat the next.

Peter

True enough! The idea is to sell your course on how to use the magic 8 ball before next Friday so people still think the world of you.
Not telling you your business or anything but something like that should go for well over $2,500.

 

[Pat494]

Have a feeling it could be your week next week Peter

Well done to you

Should have listened to my feelings more

 

[wackypete2]

True enough! The idea is to sell your course on how to use the magic 8 ball before next Friday so people still think the world of you.
Not telling you your business or anything but something like that should go for well over $2,500.

Now if I was a marketing guru, I'd already have the course planned and laid out just waiting for the right week to sell it! For example right now I'd be posting an equity curve showing how well the system backtests!

Peter

 

[Pat494]

I see a fairly flat week ahead and therefore make a forecast of

1080

 

[wackypete2]

If the US does well this weekend in the world cup I think there will be some exuberance and possibly translate that into buying. I'll make my prediction Sun night.

Peter