Weekly forecast for S&P 500 cash 2011

[isatrader]

Don't go for the bounce ?

I went long yesterday at 1255. Maybe a bit early as the breadth indicators I watch still look like they've further to go the downside, but hopefully will be the right move for a medium term trade.

 

[wackypete2]

1330

Peter

Hoping for a big bounce tomorrow!

I haven't changed my lucky undies in a week, so should be good to go

Peter

 

[robster970]

Hoping for a big bounce tomorrow!

I haven't changed my lucky undies in a week, so should be good to go

Peter

Although consensus is 91k for tomorrow, I reckon it'll will post 91000000000k which I reckon should just about get you to about 1330.

BTW, I must be permanently lucky given the frequency which I change my pants. eek:

 

[Pat494]

Phew what a drop and probably not done yet !!

Takes courage though to bet short after yesterday's drop.

 

[Atilla]

Phew what a drop and probably not done yet !!

Takes courage though to bet short after yesterday's drop.

Non-Farm Payrolls out today. Likely to have either a steadying effect or quite a sounding one... :whistling

Not much point guessing where the knife will land. 1000 is a nice round number... 50% retrace from March 09 to top.

 

[Pat494]

Non-Farm Payrolls out today. Likely to have either a steadying effect or quite a sounding one... :whistling

Not much point guessing where the knife will land. 1000 is a nice round number... 50% retrace from March 09 to top.

Results out at 1.30pm BST
If they are bad the market should drop alarmingly

The whole blinking world economy is wobbling alarmingly - talk about fiddling while Rome burnt, this could be a lot more serious imho

 

[Atilla]

Results out at 1.30pm BST
If they are bad the market should drop alarmingly

The whole blinking world economy is wobbling alarmingly - talk about fiddling while Rome burnt, this could be a lot more serious imho

Much ado about nothing... imho.

Sells papers - gets people talking - nothing else to do...

Doing weeding at the mo... Suns out. Pondering where to plant my new apple tree?

 

[isatrader]

Results out at 1.30pm BST
If they are bad the market should drop alarmingly

The whole blinking world economy is wobbling alarmingly - talk about fiddling while Rome burnt, this could be a lot more serious imho

I think we've got a long way to go before it gets worrying. Here's a weekly ichimoku chart that I look at occasionally for longer term support and resistance. By this measure we are only just hitting the longer term cloud support. A possible corrective wave 4 Elliott wave maybe since March 09?

 

[dpinpon]

Went long over the reversal pattern made on wednesday and got cought bent over on next demoniac drop day. Lost too much, but not the battle yet, Im 100% out of the market at the moment. If market bottoms out around 1000 mark as Atilla posted, then I ll be able to recoup quick the money I left behind. I know this is not the best scenario to hope for.

 

[pipsurfer56]

Went long over the reversal pattern made on wednesday and got cought bent over on next demoniac drop day. Lost too much, but not the battle yet, Im 100% out of the market at the moment. If market bottoms out around 1000 mark as Atilla posted, then I ll be able to recoup quick the money I left behind. I know this is not the best scenario to hope for.

Markets are unreal. I am glad I am not involved in the emini yet. Can anyone refer me to a good broker that offers a low starting margin?

 

[robster970]

I've had a great week. 2 small losers and 1 whopper yesterday on ES.

 

[Pat494]

Worst week for me for a long time. Pity because if I had stuck to my rules I would have been laughing !!

 

[Atilla]

Worst week for me for a long time. Pity because if I had stuck to my rules I would have been laughing !!

I blame news-noise and distractions. Was out for most of it I'm glad to say. I prefer the DOW to be honest although moves pretty much the same.

Number of trades got stopped out before the big moves.
Number of stops also saved bacon.

Not good for me either.

 

[Pat494]

For Week Ending Friday 5th August at 1199.4

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

Gaffs1964……..1340…………0……………..….0…………….……..0…………… … .…..10
robster970…….1250………..1………….………3…………………….4…………..… …. ..10
Pat494…………..1351……..…0………………….0…………………….0……………… . .….9
Isatrader……….1333.….……0………………….0…………………….0……………… … ….4
Atilla……………..1327…………0………………….0…………………….0……………………… 4
dpinpon.........1344........0...............0.. ..............0..................4
wackypete2.….1330………..0……….…………0……….………..…0………….…… …….3
Av………………….1323…….….0………………….0…………………….0……….…... …. …3
Tim3............1309........0...............0.. . ............0...................2
Wt av…………...1326.……….0…….…….…….0………………..….0……….…… …… ..2

Good call to robster970 ( on new wheels) so a hearty well done to you.
Well what a rollercoaster of a ride last week. As predicted it hinged around Tuesday's USA's debt agreement. The markets gave it the thumbs down. The unemployment figures gave the markets another jolt on Friday.

:clap:

 

[robster970]

Thanks chaps - picked up the new wheels this morning.

Need to think about where next now. 1170 area is support but I need to figure out whether last night's downgrade was priced in beforehand or not.

 

[Pat494]

oops I put that joke in the wrong thread.

Think I will wait till Monday before offering a forecast after last week.

 

[Pat494]

This is an earlier than planned forecast as it looks like my PC may not fire up soon.

The down curve looks like it's getting steeper, so down for me and a bit of a pullback towards the end of the week, see chart so 1161

 

[wackypete2]

I couldn't bear to watch, I had my eyes closed. Did it go up?? Did I win??

Peter

 

[rathcoole_exile]

1124 cash, 1118 ES

 

[Gaffs1964]

ouch - thank goodness for stops.
only a hundred & forty out this week 1150 ish?

- Nice one robster