Weekly forecast for S&P 500 cash 2011

isatrader said:
Woo hoo! Am very pleased with that. :D
I'd like thank the people that made this possible, he he:
#1) The NYSE Bullish Percent Index ($BPNYA) - head coach of my team, and made a superb call of when to go defensive at the start of May.
#2) The NYSE Percent of Stocks above their 200 day moving average ($NYA200R)
and finally
#3) The NYSE Percent of Stocks above their 50 day moving average ($NYA50R).

Without you guys I wouldn't have any money left in my account :whistling
Click to expand...

I was going to leave it to next weekend to say good effort.
But with friends like those perhaps I should handicap you 5 points to even things up :cheesy:
 
robster970 said:
I'm just that kind of guy.

Now if you'd have given me £20 to go to the bar to get a round and the round came to £12 but the barman gave me £38 change thinking I'd given him a £50 instead of a £20, you would only have got £8 back off me.............;):p
Click to expand...

We all have our price/breaking point I guess :)
 
Last friday failed the late friday rally, reason got zero points on the board, hehehe.
Still in a crouch rangebound period. 1290 for me this coming weekend.
 
The Dow industrials and the S&P 500 fell for their seventh week in the last eight. The benchmark S&P 500 is down 7 percent from its 2011 closing high at the end of April.

Investors are fearful that Greece's government may fail to pass an austerity plan this week, which could force a default on its debt repayments. The government faces an electorate vehemently opposed to the austerity measures. [ID:nLDE75N0CC]

"They (politicians) may not believe that financial markets are as sensitive to their decisions as they actually are, and there is a worry that somewhere along the line, some political vote goes against the market," said Nicholas Colas, chief market strategist of the ConvergEx Group in New York.

The S&P 500 remained within striking distance of its 200-day moving average -- a line that has been tested twice in recent trading and has so far acted as a springboard for stocks. The level was at 1,263.47.

"Every time you test a resistance or support level, you make it weaker," Colas (Stuttgart: 853381 - news) said. "It's almost like a piece of metal. Every time you hit it, it grows more fragile and that's why people are really worried the third or fourth time."

Problems in the euro zone appeared to intensify as shares of Italian banks UniCredit SpA and Intesa Sanpaolo (Dusseldorf: 575913.DU - news) fell sharply on concerns about their capital positions. Trading in their shares was briefly suspended. For details, see [ID:nLDE75N0SC]

The CBOE Volatility Index or VIX, Wall Street's barometer of investor anxiety, rose 9.4 percent to 21.10. Some analysts say fear needs to rise further before the market reaches a bottom.

The Dow Jones industrial average dropped 115.42 points, or 0.96 percent, to 11,934.58 at the close. The Standard & Poor's 500 Index fell 15.05 points, or 1.17 percent, to 1,268.45. The Nasdaq Composite Index lost 33.86 points, or 1.26 percent, to 2,652.89.

For the week, the Dow fell 0.58 percent and the S&P 500 shed 0.24 percent, while the Nasdaq gained 1.39 percent.

Bank stocks fell on concerns about the economic outlook. The KBW Banks Index lost 1 percent and the S&P Financial Sector Index shed 0.7 percent. The sector has been the worst-performing this year, falling around 8 percent.
 
average = 1275
weighted av = 1267

up 6
down 4

good analysing

:clap:
 
For Week Ending Friday 1st July at 1339.7

Name...........Call.........Direction.......Podium .........sub Total……………Total

Isatrader……….1256.….……0………………….0…………………….0……………… … ….19
Av………………….1275…….….1………………….0…………………….1……….….…. … …15
Pat494…………..1251……..…0………………….0…………………….0……………… . .….13
Tim3............------........0...............0.. . ............0....................11
robster970…….1260………..0………….………0…………………….0…………..… …… .…10
wackypete2.….1280………..1……….………….0……….……….…1………….…… … …..10
Atilla……………..1296………….1……………………3……………………4……………………… . .8
axp……………….------.…….….0……….………….0…………….………0………………… … . .7
Wt av…………...1267.………….0…….…….…….0………………..….0……….…… …… . ..7
Gaffs1964……..1278………….1……………..……0…………….…….1……………… … .…..6
dpinpon.........1290.........1...............1.. .............2......................6
BillSimmons....1291..........1................2... . ...........3....................4
pipert...........-----...........0...............0.. ..............0....................4
domgilberto……-----…………..0………………….0…………………….0……………… ………..3
brettus.........-----….........0................0.. ..............0....................2

Atilla won last week so congrats to you.
That was the final week of the 2nd quarter and the overall winner is Isatrader. Great work, must say something for the ATR indicator too. Your King of the S&P pickers crown is below. Bragging rights optional
 

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tim3 said:
Well done Atilla.

Lets try 1360 this week please Pat.
Click to expand...


Thank you Tim and you Pat for the ATR, which has so far been a real good consistent indicator. (y)

I concur with your write up Pat, I still hold the view DOW & S&P will sink. I don't have conviction in the rises. I felt 1300 line would be vigorously defended and tested. However, I didn't pencil in the rapid and strength of this week's rise - which came as a surprise. :-0

I'll have to have a closer luuk over the weekend. :eek:
 
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