Weekly forecast for S&P 500

Pat494 · Apr 11, 2010

I hope I will be able to start a bit of interesting competition to forecast the weekly Friday close of the S&P 500. Unless Sharkey & co anti up some prize or other ( hint hint ) it is for bragging rights only.

So to get the ball rolling my forecast ( best guess ) is 1198.7 for week ending 16th April 2010

hwsteele · Apr 15, 2010

Pat494 said:
I hope I will be able to start a bit of interesting competition to forecast the weekly Friday close of the S&P 500. Unless Sharkey & co anti up some prize or other ( hint hint ) it is for bragging rights only.

So to get the ball rolling my forecast ( best guess ) is 1198.7 for week ending 16th April 2010

I'll bite.
I haven't look at the S&P 500 in some time as I have been working on the forex side of things but I'll say 1185.

Pat494 · Apr 17, 2010

hwsteele said:
I'll bite.
I haven't look at the S&P 500 in some time as I have been working on the forex side of things but I'll say 1185.

S&P Friday close 1192.1

I guess thats 1 up to you hw. I was nearer 6.6 but you got the direction correct, on 7.1 away
I was well on track until the Goldman thing came up.
This week I am forecasting 1197 for week ending 23rd April

hwsteele · Apr 19, 2010

Pat494 said:
S&P Friday close 1192.1

I guess thats 1 up to you hw. I was nearer 6.6 but you got the direction correct, on 7.1 away
I was well on track until the Goldman thing came up.
This week I am forecasting 1197 for week ending 23rd April

Well to tell the truth I used an old trick that only works with the third Friday of each month.
And I wanted to say 1185-1190 for the low of the day, but you gave the end of day criteria so I followed. I knew Friday would be a big down day cause of a couple a cycles coming out then, but got the price target from the SPY options that were expiring this month.
In fact using the option method would have worked with out the timing cycles.:whistling

Not having that to work with this week it will be a bit more of a challenge.

But I will say...

1174, but I like 1188 also.:cheesy:

But I did say 1174 first so that's my number!

hwsteele · Apr 23, 2010

Pat494 said:
S&P Friday close 1192.1

I guess thats 1 up to you hw. I was nearer 6.6 but you got the direction correct, on 7.1 away
I was well on track until the Goldman thing came up.
This week I am forecasting 1197 for week ending 23rd April

Looks like you won the prize this week!

Pat494 · Apr 24, 2010

hwsteele said:
Looks like you won the prize this week!

Friday 23rd April Close 1217.3

Well that's 1-1. At least I'm giving you a bit of competition. Taking into account your lower forecast last week I am supposing you are thinking it may have topped out ?
The company results seem to be keeping the market buoyant for the time being. I am keeping an eye open for head 'n shoulders TA though.
I will post my next week's forecast soon.

Pat494 · Apr 24, 2010

This week I am forecasting 1225 for week ending 30th April

It's going to pull-back fairly soon but maybe not this coming week imho

hwsteele · Apr 24, 2010

Well I think the end of May might be a better time for a nice top.
Looking for the top to be somewhere around 1260
Could be wrong but..

I thought we might get some sideways this past week that's why I guessed what I did.

I am going to say 1210 for this Friday.

koolblue · Apr 24, 2010

1229.25

hwsteele · Apr 26, 2010

koolblue said:
1229.25

Good to see you back if just for one post!

Pat494 · May 1, 2010

Good one hw. I make that 2 - 1 to you.
I was expecting a pull back but not so soon.

Pat494 · May 1, 2010

My forecast for week ending 7th May is

1204

It seems to me to be topping out

hwsteele · May 1, 2010

I think you may be right about the market. At least some sideways action for a week or more.
After looking at things my best guess will be 1180.
I hope Koolblue keeps making his guess too.
It could get interesting if we had about five or ten people "playing".

N Rothschild · May 1, 2010

elitejets · May 2, 2010

You guys are brave predicting the close on NFP Friday!
I am going to say 1170 low for the week

hwsteele · May 2, 2010

elitejets said:
You guys are brave predicting the close on NFP Friday!
I am going to say 1170 low for the week

Hey wait I just reread what you wrote! LOW FOR THE WEEK? Come now if any one can hit the nail on it's head for Friday close :cheers: its you...

hwsteele · May 2, 2010

elitejets said:
You guys are brave predicting the close on NFP Friday!
I am going to say 1170 low for the week

Nice to see more people playing along!

elitejets · May 2, 2010

hwsteele said:
Hey wait I just reread what you wrote! LOW FOR THE WEEK? Come now if any one can hit the nail on it's head for Friday close :cheers: its you...

Darn I thought I got away with it and I could be a legend. OK 1202 close

hwsteele · May 2, 2010

elitejets said:
Darn I thought I got away with it and I could be a legend. OK 1202 close

Is that a play on the "close" of the world in 2012?:|
Sorry couldn't resist:cheesy:

N Rothschild · May 5, 2010

there's that 1155 handle!

elitejets, if a 5 year old can call a market direction, why is your prediction so far out..?

Weekly forecast for S&P 500

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