S&P 500 cash weekly competition for 2013

Pat494

Legendary member
13,777 1,388
2013-01-02 04:07 GMT

US House passes fiscal cliff bill

After weeks of talks and negotiations, the House of Representatives has finally passed the fiscal cliff bill, with the 'yea' votes obtained surpassing the 217 threshold needed to approve the fiscal deal. The final vote count stood at 257-167 in favour of the bill. President Obama is ready to sign it into law.

The compromise, which first was agreed by Senate in early Tuesday morning, has come not without some last minute agitated negotiation disputes, in which Republicans wanted to challenge the approved senate-bill by sending it back for revision demanding additional spending cuts, with reports initially suggesting that the House Republicans would be adjourning any decision until Wednesday. Pending the signature of President Obama, expected to be done shortly, the US officially avoids that millions of citizens suffer tax hikes and spending reductions, which would have brought the U.S. economy into recession according to economists' projections. Worth not forgetting though, is that still plentiful of unresolved pressing issues remain, with the most immediate being the need to raise the federal borrowing limit, with the deadline over 2 month from now.-
 

wackypete2

Legendary member
10,206 2,045
2013-01-02 04:07 GMT

US House passes fiscal cliff bill

After weeks of talks and negotiations, the House of Representatives has finally passed the fiscal cliff bill, with the 'yea' votes obtained surpassing the 217 threshold needed to approve the fiscal deal. The final vote count stood at 257-167 in favour of the bill. President Obama is ready to sign it into law.

The compromise, which first was agreed by Senate in early Tuesday morning, has come not without some last minute agitated negotiation disputes, in which Republicans wanted to challenge the approved senate-bill by sending it back for revision demanding additional spending cuts, with reports initially suggesting that the House Republicans would be adjourning any decision until Wednesday. Pending the signature of President Obama, expected to be done shortly, the US officially avoids that millions of citizens suffer tax hikes and spending reductions, which would have brought the U.S. economy into recession according to economists' projections. Worth not forgetting though, is that still plentiful of unresolved pressing issues remain, with the most immediate being the need to raise the federal borrowing limit, with the deadline over 2 month from now.-
Thanks for the update, Pat.
Just FYI, the bold part is being reported wrong. The US has reached the borrowing limit already and cannot borrow more money. Treas. Sec't Geithner has enacted emergency measures to avoid defaulting, but as of now the US cannot borrow more money.

Peter
 
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Pat494

Legendary member
13,777 1,388
I guess some people are a bit like me and are always looking for a good idea as regards trading forecasting.

OK so I will lay this one out.
The charts show a wiggly line of the ups and downs ok. So why not someone set it to music ? It would be relatively easy for anyone who can programme. The end result may be awful or it just might surprise.

Da boom ity boom ............?

:idea:
 

Atilla

Legendary member
19,037 2,678
Week1 results has thrown the pack off and sent averages into the yonder...

Only 4 optimists have forecast correct direction.


Pessimists get nil puan.
 

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isatrader

Senior member
2,928 128
I had a shockingly bad week, as I was in a reasonably profitable S&P 500 short at the close last week, which has been savaged by this weeks low volume move. I didn't even look at my account on 31st as I took the day off like most people clearly did by the volume and then to see another huge move before the US open on 2nd because of the fiscal cliff nonsense is just annoying frankly. Just shows what can happen when there's no liquidity. Anyway, it's a new week, and although I think the momentum could push the S&P up to retest the September highs this coming week. I think last weeks move was just too extreme, and will need time to be absorbed, and companies also begin reporting earnings this week so I'm thinking that we'll get a consolidation week.

So 1462 please

 

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malaguti

Senior member
2,373 459
1440 please
 

Atilla

Legendary member
19,037 2,678
1466 for me please
Hi ibetyou,

This is a tough one to plug into the system as it is neither up or down???

Close of week was 1466.47 to be precise - so if you like I can plug it into system as a down direction call.

Re-forecast is likely to be the easiest way out of this conundrum.


Any direction welcome from members on approach to take? :rolleyes: :rolleyes: :rolleyes:
 

ibetyou

Active member
249 36
Sorry Atilla, Re-forecasting, I will be brave and go with 1477 for next week please.

PS Thanks for doing a great job.
 
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