S&P/Dow weekly forecast

[Pat494]

Since the weekly competition hasn't reappeared, thought I might start a thread forecasting one's ideas for major US indices a week ahead.

so for week August 25 - 29 th

range 1292 - 1246

down

 

[Mr.J-Arthur]

I'll play the game

let me form my opinion tonight and then I'll post my forcast.

 

[Pat494]

I'll play the game

let me form my opinion tonight and then I'll post my forcast.

Great. Look forward to your forecast

( I usually change mine by monday afternoon !!??

 

[Mr.J-Arthur]

Uh jeez, I don't have an opinion I try to just blindly follow my system of moving averages whenever possible. but I will take a general stab..

But, it looks like Dow and Nasdaq want to test the lows. So I'm looking for a bounce after the Monday Sell Off....But we have consumer confidence report 10am et and New Home Sales, along with FOMC minutes...There should be some good movement with these reports, maybe negative reaction is possible.

I think NQ and YM will test the 100 moving average, but probably not get much higher.
That's tomorrows forcast...but for the whole week my guess is:
NQ should be able to test last week's highs or hit some nice lows in the 1830 region..I don't ever hold over multiple days, way to risky at this time. These are just general support and resistance levels...and it's just a quick glance at the charts

Anything can go down this week, but I think NQ could inch down. DOW can go into low 11's (well it already is!).

 

[Pat494]

Since the weekly competition hasn't reappeared, thought I might start a thread forecasting one's ideas for major US indices a week ahead.

so for week August 25 - 29 th

range 1292 - 1246

down

Actual range 1300.7 - 1263

down from 1292.2 to 1282.8

 

[Pat494]

forecast for week Sep 1st - 5th

range 1259 - 1294

choppy - probably down

( not far off last week )

 

[Mr.J-Arthur]

I agree with you Pat! Next week will be a down week, and volume will be picking up so the choppy conditions shouldn't last too much longer.

We are on a holiday in USA. Can't wait for market to re-open.

 

[hwsteele]

Ok what's the word for the week of 9-8 - 9-12?

 

[Pat494]

Forecast for week Sept 8 - 12

range 1212 - 1305

UP

 

[TomTom]

Ok heres mine for what its worth .

1232 to 1307 UP

 

[KTF]

Double bottom around 1200 then up for rest of year

 

[tantra]

you expecting the market to bounce up??? You sure buddy??

 

[KTF]

Yep, good article in IC pointing out the US equity market in the past 14 election cycles has not fallen between 1 October in the second year to the end of the 4th year. So the S&P needs to be above 1335 at the end of this year. Of course this can fail but I'm liking the odds... Also figure the government will somehow 'encourage' an election rally.

 

[hwsteele]

Ok here is my guess:
Up monday and tuesday to about 1270 and then down wednesday to no lower than 1245. Back up on thursday and friday to 1295.

 

[tantra]

Yep, good article in IC pointing out the US equity market in the past 14 election cycles has not fallen between 1 October in the second year to the end of the 4th year. So the S&P needs to be above 1335 at the end of this year. Of course this can fail but I'm liking the odds... Also figure the government will somehow 'encourage' an election rally.

Interesting...!

 

[iMASLAN]

Yep, good article in IC pointing out the US equity market in the past 14 election cycles has not fallen between 1 October in the second year to the end of the 4th year. So the S&P needs to be above 1335 at the end of this year. Of course this can fail but I'm liking the odds... Also figure the government will somehow 'encourage' an election rally.

Interesting...

But I don't believe this election will be much similar to those cycles...

 

[tantra]

i'm a bit sceptical too... this election coincides with the credit crunch and a failing global economy... time will tell!

 

[Pat494]

you expecting the market to bounce up??? You sure buddy??

Went UP nicely yesterday - so anyone with a trailing stop is making money already imho

 

[hwsteele]

Well I did a paper trade. I'm having trouble getting the printer to print my money though.

 

[Pat494]

Forecast for week Sept 8 - 12

range 1212 - 1305

UP

actual range 1224.5 - 1267.8

actual = Up from 1242.3 to 1251.7

that's 3 out of 3 !