Weekly forecast for S&P 500

[snowrider]

I think that I am wrong this time. It seems to be taking the alternative count.

I knew it right after ES' strong opening few hours later on Sunday's evening. I figured out that the market was about to take my last week's alternative count, and it really did!

It's really not easy to win this guessing game because we cannot change our forecasts after the market opens. That's why the winners of this game must be very good both on timing and price action.

I think that after the market's surge, it needs to take a break for consolidation.
Therefore, here is my guess for 09/10/2010 SP's close: 1101

 

[Gaffs1964]

I'll go for 1118, bouncing back from the resistance around 1130ish ..... who know's, it may even happen...

 

[slight]

somehow i am bullish on this now .. strong move upwards, took some profits out already. i am kind of waiting for another buy signal. we'll see.

 

[elitejets]

My vote for quadruple witching next week is 1075

 

[Pat494]

For Week Ending Friday 10th September at 1109.6

snowrider was the nearest BUT got the direction wrong ( commiserations ), which makes Gaffs the winner this week - so congrats to you again


WINNERS
Pat .............5
hwsteele .......4
wackypete .....4
Gaffs ...........4
N. Rothschild ..2
dpinpon ........1
Elitejets ........1
luckyd 1976 ....1

 

[Pat494]

I think it will rise again next week so I'll forecast 1130

 

[Gaffs1964]

Thanks, More luck than judgement i'm afraid 1085 for 17th

 

[snowrider]

For Week Ending Friday 10th September at 1109.6

snowrider was the nearest BUT got the direction wrong ( commiserations ), which makes Gaffs the winner this week - so congrats to you again
...

Hi there, did I mention any direction? I said that the market was going to take a break into consolidation phase, and the market did that! The first two paragraphs were talking about the week before.

http://www.trade2win.com/boards/us-indices/91576-weekly-forecast-s-p-500-a.html#post1242064

 

[Pat494]

Hi there, did I mention any direction? I said that the market was going to take a break into consolidation phase, and the market did that! The first two paragraphs were talking about the week before.

http://www.trade2win.com/boards/us-indices/91576-weekly-forecast-s-p-500-a.html#post1242064

I think that after the market's surge, it needs to take a break for consolidation.
Therefore, here is my guess for 09/10/2010 SP's close: 1101

Hi,
I understood your forecast was 1101 for this week. That is 3.5 points down from last week's close is it not ? So it was a down forecast and therefore would have been a short.
Close but better luck next time. The rules state the forecast has to be in the correct direction and then the nearest decides it.

 

[snowrider]

I think that after the market's surge, it needs to take a break for consolidation.
Therefore, here is my guess for 09/10/2010 SP's close: 1101

Hi,
I understood your forecast was 1101 for this week. That is 3.5 points down from last week's close is it not ? So it was a down forecast and therefore would have been a short.
Close but better luck next time. The rules state the forecast has to be in the correct direction and then the nearest decides it.

Thanks fore clarification. If my last week's prediction about the market (i.e., "take a break for consolidation") was not clear about the direction, and if it make you think that I was shorting the market, then good luck to you guys. Have fun!

 

[hwsteele]

Been away for a bit but am back now. (At least for a while:cheesy
I am going to say 1101.53 for this Friday coming up.

Pat...you changed your avatar!

 

[Pat494]

Been away for a bit but am back now. (At least for a while:cheesy
I am going to say 1101.53 for this Friday coming up.

Pat...you changed your avatar!

Good to see you back hw
I took over your crown as "king of the pickers" whilst you were away, but now ??

:innocent:

 

[Pat494]

Thought I might offer this million dollar banknote as a prize for the King of the pickers as at 31st December 2010

 

[Pat494]

Pat...you changed your avatar!

having a bit of an update

 

[hwsteele]

Thought I might offer this million dollar banknote as a prize for the King of the pickers as at 31st December 2010

I remember when this was a lot of money!
Now you can only get half a top shelf Ferrari for it!

 

[Pat494]

I remember when this was a lot of money!
Now you can only get half a top shelf Ferrari for it!

that's wot economists call progress :cheesy:

 

[Pat494]

For Week Ending Friday 17th September at 1125.6
mine was nearest AND going in the right direction


WINNERS
Pat .............6
hwsteele .......4
wackypete .....4
Gaffs ...........4
N. Rothschild ..2
dpinpon ........1
Elitejets ........1
luckyd 1976 ....1

 

[Pat494]

All my indicators say up for next Friday's close but I feel it might be not quite as rosy as that and will therefore say 1133

 

[TRADEFUTURES]

1159

 

[hwsteele]

Hard to say this time around for me as looking at the chart I could give reason for the price stalling and heading back down or for going on up to around TRADEFUTURES target of 1159.

My hunch tells me that either way it would not make to the extreme for either case by the end of next week.
As always we will have to wait and see but I will say next Friday will be up slightly to 1145.

And as always congrats to Pat for Number 6.