robster970
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Nice to have you back Pat, even if your primary mode of connection is a 9.6k Modem!!
Pat494
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I won't object if others don't Pat, why not go ahead and make prediction all the same...
You've let others off and it's only Tuesday. Thrreeeeeee more days to go...
Thanks Atilla - appreciate the thought but all my data and forecasting systems have to be rebuild from sratch - aaaaah. Hope to be active again soon tho.
Pat494
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For Week Ending Friday 16th September at 1216.01
Name.............Call.........Direction.......Podi um .........sub Total……………Total
Gaffs1964………..1170…………..1……………...….0…………….……..1……… … … … .…..14
wackypete2.…….1221……………1……….…….……3……….………..…4…………. … … ……13
Pat494……………..0000……..…..0…………….…….0…………………….0…………… .… . ...12
robster970……….1115……………0………….….……0…………………….0………….. … …. ..12
Atilla………………..1122.3…………0……………….….0…………………….0…………… … … … 11
dpinpon..........1105...........0................0 .. ..............0...................9
Isatrader………….1125.….…….…0……………….….0…………………….0…………… …. … ….7
Av…………………….1150…….…….0…………………...0…………………….0………… . .. …. …6
Rathcoole exile..0000..........0................0........... . . ..0...................5
Wt av………….....1145.………...0…….…….……….0………………..….0…… … .… … …… .4
debrox............1247..........1................2. ................3....................4
Tim3..............0000..........0.................0 . ...............0..... ..............3
tomekinv........1118..………...0…………………..0……………………..0… ………… …………..1
dc2000...........1259...........1.................1.................1.....................1
DonStar..........1127...........0.................0. . ..............0....................0
Congrats to Peter & polly, but Gaffs1964 stiill holds onto the lead, coming into the backstrait. Only 2 more weeks !!
:clover:
Name.............Call.........Direction.......Podi um .........sub Total……………Total
Gaffs1964………..1170…………..1……………...….0…………….……..1……… … … … .…..14
wackypete2.…….1221……………1……….…….……3……….………..…4…………. … … ……13
Pat494……………..0000……..…..0…………….…….0…………………….0…………… .… . ...12
robster970……….1115……………0………….….……0…………………….0………….. … …. ..12
Atilla………………..1122.3…………0……………….….0…………………….0…………… … … … 11
dpinpon..........1105...........0................0 .. ..............0...................9
Isatrader………….1125.….…….…0……………….….0…………………….0…………… …. … ….7
Av…………………….1150…….…….0…………………...0…………………….0………… . .. …. …6
Rathcoole exile..0000..........0................0........... . . ..0...................5
Wt av………….....1145.………...0…….…….……….0………………..….0…… … .… … …… .4
debrox............1247..........1................2. ................3....................4
Tim3..............0000..........0.................0 . ...............0..... ..............3
tomekinv........1118..………...0…………………..0……………………..0… ………… …………..1
dc2000...........1259...........1.................1.................1.....................1
DonStar..........1127...........0.................0. . ..............0....................0
Congrats to Peter & polly, but Gaffs1964 stiill holds onto the lead, coming into the backstrait. Only 2 more weeks !!
:clover:
Atilla
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Pat494
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I know, I know - the edit button won't work on that post.
But never-the-less my forecast is 1166 for next week
wackypete2
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I'm going 1226 for this week.
Peter
Peter
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The fledgling channel I mentioned a few weeks back is still in play, and we had a close above the steep down trend line on Thursday, which also put the cumulative volume indicator I use back on a buy signal as the cumulative volume moved above the moving average again after the false break below the price channel on Monday. So some positives on the daily chart.
The weekly chart is still well below the falling 30 week moving average and my volume indicator is still on a sell signal, so it gives me caution that this is just a recovery move from the steep sell off in August still.
The point and figure chart is on a buy signal, but it is below the down trend line which is at 1250, so we'd need a break above 1260 to resume a P&F uptrend. However, looking at the volume by price on the left of the chart you can see that volume resistance is thin until 1270, so that's where I'd expect more resistance to any bullish move and 1250 to 1270 is also the zone where the market based around in March and June, so if this is a B wave correction then that's where I'd bet the market gets to before stalling.
The final charts are the breadth indicators of the percentage of S&P 500 stocks above their 200 day moving average and their 50 day moving average. Both of these are now on buy signals again.
I'm going to go with the bulls this week with a close at the end of the week near the June lows.
So 1250 please Pat
The weekly chart is still well below the falling 30 week moving average and my volume indicator is still on a sell signal, so it gives me caution that this is just a recovery move from the steep sell off in August still.
The point and figure chart is on a buy signal, but it is below the down trend line which is at 1250, so we'd need a break above 1260 to resume a P&F uptrend. However, looking at the volume by price on the left of the chart you can see that volume resistance is thin until 1270, so that's where I'd expect more resistance to any bullish move and 1250 to 1270 is also the zone where the market based around in March and June, so if this is a B wave correction then that's where I'd bet the market gets to before stalling.
The final charts are the breadth indicators of the percentage of S&P 500 stocks above their 200 day moving average and their 50 day moving average. Both of these are now on buy signals again.
I'm going to go with the bulls this week with a close at the end of the week near the June lows.
So 1250 please Pat
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robster970
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1252 for me his week.
Pat494
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NEW YORK (Xetra: A0DKRK - news) , Sept 19 (Reuters) - Wall Street stock indexes were set to drop more than 1 percent at the open on Monday as renewed fears of a Greek debt default prompted investors to book some of last week's gains and turn to safer assets such as gold.
European stock indexes fell 2 percent or more, led by banking shares, including Deutsche Bank (Xetra: 514000 - news) and Societe Generale , on worries euro zone leaders won't be able to prevent a default by debt-stricken Greece.
At meetings on Saturday, European Union finance ministers broke no new ground in dealing with the crisis and made no decision on whether to give more firepower to the 440 billion euro ($607 billion) bailout fund, as suggested by U.S. Treasury Secretary Timothy Geithner. For details, see [ID:nLDE78G00Z]
Investors bought gold and government debt after the Greek prime minister, George Papandreou, canceled a visit to the United States to instead chair a cabinet meeting on Sunday, a day before EU and International Monetary Fund inspectors hold a conference call with Finance Minister Evangelos Venizelos to hear how Greece will plug this year's budget shortfall.
A regional election defeat for German Chancellor Angela Merkel on Sunday, her sixth election defeat this year, also kept investors on edge.
S&P 500 (SNP: ^GSPC - news) futures lost 19.4 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones (DJI: ^DJI - news) industrial average futures were down 33.50 points, and Nasdaq 100 futures fell 159 points.
Spot gold rose to bid $1,814.70 a troy ounce from $1,810.73 late in New York on Friday. The precious metal hit a record high of $1,920.30 on September 6.
U.S. stocks rose for a fifth day in a row on Friday and the S&P 500 index scored its best week since early July. The S&P ended up 0.6 percent at 1,216.01.
"The index's 50-day moving average (1,228) is a near-term battleground. Bulls are already encountering resistance as signified by an intra-day reversal at 1,220 on Friday," said Ari Wald, BBH's technical market analyst.
"A similar test of this resistance led to a pick up in selling pressure at the start of the month. A breakout amid near-term overbought conditions would be a sign of strength."
Investors awaited U.S. President Barack Obama's deficit-reduction plan on Monday, ahead of the Federal (SES: E1:F20.SI - news) Reserve's Federal Open Market Committee meeting later in the week. [ID:nS1E78H0B2]
European stock indexes fell 2 percent or more, led by banking shares, including Deutsche Bank (Xetra: 514000 - news) and Societe Generale , on worries euro zone leaders won't be able to prevent a default by debt-stricken Greece.
At meetings on Saturday, European Union finance ministers broke no new ground in dealing with the crisis and made no decision on whether to give more firepower to the 440 billion euro ($607 billion) bailout fund, as suggested by U.S. Treasury Secretary Timothy Geithner. For details, see [ID:nLDE78G00Z]
Investors bought gold and government debt after the Greek prime minister, George Papandreou, canceled a visit to the United States to instead chair a cabinet meeting on Sunday, a day before EU and International Monetary Fund inspectors hold a conference call with Finance Minister Evangelos Venizelos to hear how Greece will plug this year's budget shortfall.
A regional election defeat for German Chancellor Angela Merkel on Sunday, her sixth election defeat this year, also kept investors on edge.
S&P 500 (SNP: ^GSPC - news) futures lost 19.4 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones (DJI: ^DJI - news) industrial average futures were down 33.50 points, and Nasdaq 100 futures fell 159 points.
Spot gold rose to bid $1,814.70 a troy ounce from $1,810.73 late in New York on Friday. The precious metal hit a record high of $1,920.30 on September 6.
U.S. stocks rose for a fifth day in a row on Friday and the S&P 500 index scored its best week since early July. The S&P ended up 0.6 percent at 1,216.01.
"The index's 50-day moving average (1,228) is a near-term battleground. Bulls are already encountering resistance as signified by an intra-day reversal at 1,220 on Friday," said Ari Wald, BBH's technical market analyst.
"A similar test of this resistance led to a pick up in selling pressure at the start of the month. A breakout amid near-term overbought conditions would be a sign of strength."
Investors awaited U.S. President Barack Obama's deficit-reduction plan on Monday, ahead of the Federal (SES: E1:F20.SI - news) Reserve's Federal Open Market Committee meeting later in the week. [ID:nS1E78H0B2]
Pat494
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For Week Ending Friday 23rd Sept 2011 at 1136.4
Name.............Call.........Points...........Direction.......Podi um .........sub Total……………Total
Gaffs1964………..1180…………..14.............1……………...….0…………….……..1……… … … … .…..15
Pat494……………..1166……..…..12..............1…………….…….2……………………3…………… .… . ....15
wackypete2.…….1226………….…13............0……….…….……0……….………..…0………… . … … …….13
Atilla………………..1204…………..11..............1……………….….0…………………….1…………… … … … ..12
robster970……….1252……………12.............0………….….……0…………………….0………….. … …. ....12
dpinpon...........1170...........9..............1................1 ....... ........2.......................11
Isatrader…………..1250.….……...7.................0……………….….0……………….0………… … …. ….. ….7
Av…………………….1204…….…….6.................1…………………...0…………………….1………..… . .. …. ….7
Wt av………….....1206.………....4................1…….…….……….0………….……..…1…… … .…. … …… ..5
dc2000............1121...........1................1................. .3................4......................5
Rathcoole exile..0000...........5.................0...................0.......... . . ..0......................5
debrox............1247...........4................ 0. ..................0................0......................4
Tim3..............0000...........2..................0.................. 0 . ..............0......................2
tomekinv.........0000..………...1...................0………..…………..0…………………….. 0 … ………… ….…..1
DonStar..........1222.5..........0.................. 0..... . ...........0..................0.....................0
dc2000 won this week. Well done I think DonStar may have his charts upside down ? Would have had a perfect score otherwise !
Last week this week of the quarter, so dwell on it a bit folks
Anyway good luck for next week !!
Name.............Call.........Points...........Direction.......Podi um .........sub Total……………Total
Gaffs1964………..1180…………..14.............1……………...….0…………….……..1……… … … … .…..15
Pat494……………..1166……..…..12..............1…………….…….2……………………3…………… .… . ....15
wackypete2.…….1226………….…13............0……….…….……0……….………..…0………… . … … …….13
Atilla………………..1204…………..11..............1……………….….0…………………….1…………… … … … ..12
robster970……….1252……………12.............0………….….……0…………………….0………….. … …. ....12
dpinpon...........1170...........9..............1................1 ....... ........2.......................11
Isatrader…………..1250.….……...7.................0……………….….0……………….0………… … …. ….. ….7
Av…………………….1204…….…….6.................1…………………...0…………………….1………..… . .. …. ….7
Wt av………….....1206.………....4................1…….…….……….0………….……..…1…… … .…. … …… ..5
dc2000............1121...........1................1................. .3................4......................5
Rathcoole exile..0000...........5.................0...................0.......... . . ..0......................5
debrox............1247...........4................ 0. ..................0................0......................4
Tim3..............0000...........2..................0.................. 0 . ..............0......................2
tomekinv.........0000..………...1...................0………..…………..0…………………….. 0 … ………… ….…..1
DonStar..........1222.5..........0.................. 0..... . ...........0..................0.....................0
dc2000 won this week. Well done I think DonStar may have his charts upside down ? Would have had a perfect score otherwise !
Last week this week of the quarter, so dwell on it a bit folks
Anyway good luck for next week !!
Last edited:
wackypete2
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As long as I'm ahead of the average I don't feel so bad!
ps: Pat, you need to fix this line in that last post "For Week Ending Friday 16th September at 1216.01"
Waiting until Sunday night to pick in case any weekend news comes out. Any small tidbits or rumors causes wild swings these days.
Peter
ps: Pat, you need to fix this line in that last post "For Week Ending Friday 16th September at 1216.01"
Waiting until Sunday night to pick in case any weekend news comes out. Any small tidbits or rumors causes wild swings these days.
Peter
