Weekly forecast for S&P 500 cash 2011

[dpinpon]

Still in a consolidation range mode, maybe 1347 this time.

 

[isatrader]

It feels like the market wants to pullback to me here and retest the recent breakout from the downtrend after stalling last week. So I think there could be a pullback to the short term moving averages this week where it could find some support and then close the week around the 1330 level.

So 1330 for me please Pat

 

[Pat494]

NEW YORK (Xetra: A0DKRK - news) , July 8 (Reuters) - Wall Street heads into earnings season next week playing a typical game: Worrying about results a lot, and then rallying on pleasant surprises.

Analysts have been lowering earnings estimates of late and nervousness about the U.S. economic picture abounds, especially after Friday's poor June jobs report.

However, profit growth could still be strong in the second quarter -- and that could boost stocks. The Standard & Poor's 500 fell 0.4 percent in the second quarter, but rallied in recent days on hopes for economic improvement.

Over the last month, analysts have revised downward their earnings estimates for S&P 500 (SNP: ^GSPC - news) companies, with the mean change in earnings estimates a negative 6.4 percent, according to Thomson Reuters StarMine data.

 

[Gaffs1964]

1320 for me please

 

[robster970]

Thanks boys. I'm surprised it came back after it broke 1350 area. That's NFP for you though.

Been away for the weekend so will post tomorrow before open when I've looked at charts.

 

[SlipperyC]

Still sticking with my Head and Shoulders idea. My target is 1320.

Hope I'll be included on the scoreboard this week! ;-)

 

[robster970]

1345 for me again - can't see it going anywhere this week.

 

[Pat494]

average = 1337
weighted av = 1344
up 5
down 6

good luck everyone

:clap:

 

[Pat494]

Still sticking with my Head and Shoulders idea. My target is 1320.

Hope I'll be included on the scoreboard this week! ;-)

Looking good so far

 

[lcchong76]

 

[Pat494]

Nice chart.
A bit late to enter this week's competition but what's your forecast for Friday close ?

 

[lcchong76]

I am not so good in forecasting, but for SP500 to resume up-trend, it should form a higher-low.

 

[Atilla]

S&P 500 vies with major technical test

http://www.marketwatch.com/story/sp-500-vies-with-major-techncial-test-2011-07-12?dist=afterbell

This article is certainly behind us guys. Good work Pat. If I may say so our group is way ahead of the game. I love this ATR indicator...

 

[Pat494]

Perhaps you could post a snapshot of your ATR Atilla ? Mine doesn't look like much tbh.

 

[Atilla]

Perhaps you could post a snapshot of your ATR Atilla ? Mine doesn't look like much tbh.

Pat, Pat, Pat !

All I do is short or long based on ATR direction. That's all.


12 heads better than 1 eh?

 

[Pat494]

Here is mine and the dips seem to coincide with the peaks of the S&P

 

[Atilla]

Here is mine and the dips seem to coincide with the peaks of the S&P

Have I got the wrong end of the stick?

I was referring to the ATR indicator on this blog whether it is up or down based on peoples targets. You know your posts with summary; 3 up 7 down etc...

 

[Pat494]

Have I got the wrong end of the stick?

I was referring to the ATR indicator on this blog whether it is up or down based on peoples targets. You know your posts with summary; 3 up 7 down etc...

Oh, it seems we are talking about different things

not to worry

 

[tim3]

Crazy markets this week seems like a total lottery, talk about games.

 

[Pat494]

For Week Ending Friday 15th July at 1316.1

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

robster970…….1345………..0………….………0…………………….0…………..… …. ..4
Pat494…………..1342……..…1………………….0…………………….1……………… . .….4
Isatrader……….1330.….……1………………….1…………………….2……………… … ….4
Gaffs1964……..1320…………1……………..…3…………….……...4…………… … .…..4
Slippery C.......1320........1..............3..................4..................4
Atilla……………..1310…………1……………………2……………………3……………………… 3
Tim3............1360........0...............0.. . ............0...................1
wackypete2.….1361………..0……….………….0……….……….…0………….…… ……..1
Av………………….1337…….….1………………….0…………………….1……….…...…. ……1
dpinpon.........1347........0...............0.. ..............0....................0
Wt av…………...1344.……….0…….…….…….0………………..….0……….…… …… . ..0

Joint 1st places to Gaffs1964 and Slippery C last week. Well done guys. A 4 way tie at the top of the leaderboard now. So choose carefully for next week imho

:clap: