Weekly forecast for S&P 500

[Pat494]

You should watch Pat - he seems to be in league with lucifer when it comes to predicting the numbers.

Thanks Rob but it looks like my forecast based on fundamentals is a bit off this week. Should stick with the technicals as usual.

The election result Plus QE2 don't seem to be moving the market much

 

[robster970]

I think people are trying to digest what $600bn means..............it's neither here nor there really.

Quite volatile though for 15 mins though. Anyway, I don't there is anything else for me in todays session so might knock it on the head and go to the pub to meet a mate.

 

[Aston1st]

 

[Pat494]

For Week Ending Friday 5th November at 1225.8



WINNERS
Pat 494.........10
hwsteele .......6
wackypete .....4
Gaffs ...........4
N. Rothschild ..2
dpinpon ........1
Elitejets ........1
luckyd 1976 ....1
Robster970.....1

We have a new name on the winners league board, so well done to Robster970

 

[Pat494]

Well so much for my forecasting with fundamentals. I think I had better stick to technicals.

The Fed seems to be trying to scrape out of the 3 trillion dollar debt by printing more and more money, in the Robert Mugabe school of economics. Lets hope they stop before their paper money becomes worthless !!

Could sell off Alaska AND get rid of Sara Palin too - now that's a thought.

The index is still hot and upwards so 1251 for my next forecast

 

[starman45]

Well so much for my forecasting with fundamentals. I think I had better stick to technicals.

The Fed seems to be trying to scrape out of the 3 trillion dollar debt by printing more and more money, in the Robert Mugabe school of economics. Lets hope they stop before their paper money becomes worthless !!

Could sell off Alaska AND get rid of Sara Palin too - now that's a thought.

The index is still hot and upwards so 1251 for my next forecast

I agree: there's a strong uptrend.
The next area S/R is 1250.
Attention to profit taking

 

[SanMiguel]

I agree: there's a strong uptrend.
The next area S/R is 1250.
Attention to profit taking

Profit taking by who, there are no humans trading it anymore otherwise we might have seen 2 down days in a row and a retrace during the rally?!?!?

 

[starman45]

Profit taking by who, there are no humans trading it anymore otherwise we might have seen 2 down days in a row and a retrace during the rally?!?!?

It's probably retest of 1218 area, imho

 

[wackypete2]

1210

Peter

 

[robster970]

1221

Think the algo's will try and push up but as there little US economic data out this week it will loiter and probably find support around April's high. Not much POMO activity either apart from Monday 8th - another reason for it to loiter.

 

[Pat494]

I have got the new Metastock 11 on order so when it comes I should be flying high

 

[Gaffs1964]

I'll go for 1200 - if I'm not too late...

 

[robster970]

I'll go for 1200 - if I'm not too late...

Actually - what's to stop somebody from rocking up at 8.30pm on a Friday Pat?

 

[Pat494]

Actually - what's to stop somebody from rocking up at 8.30pm on a Friday Pat?

Only 3 rules and one of them is to have the forecast in by the week's opening. Friday forecasts have been tried and discounted for the competition tho

 

[Pat494]

It's probably retest of 1218 area, imho

So which one starman 1218 0r 1250 ? Could make a difference !

 

[hwsteele]

Goodness me missed the starting gate again!!
The market will close at exactly 1198.36.
The reason I know this is because the forecast was late and as such no good for the game.
I figured that I could pick any number off the top of my head and get it right at this point.

 

[Pat494]

For Week Ending Friday 12th November at 1199.2



WINNERS
Pat 494.........10
hwsteele .......6
Gaffs............5
wackypete .....4
N. Rothschild ..2
dpinpon ........1
Elitejets ........1
luckyd 1976 ....1
Robster970.....1

Great pick Gaffs. So congrats to you

:clap:

 

[Pat494]

Goodness me missed the starting gate again!!
The market will close at exactly 1198.36.
The reason I know this is because the forecast was late and as such no good for the game.
I figured that I could pick any number off the top of my head and get it right at this point.

Another great forecast hw but a little late.

 

[Pat494]

A tricky one this week
Haven't quite seen the bend yet at the end of the trend but soon imho
Hoping it will have a quick look up in this retrace I will say 1212 this week

good hunting

 

[hwsteele]

I will make sure to get in early this time!!
I am going on a bit of a limb here and will say 1194 for this Friday up next. (11-19-10)