Weekly forecast for S&P 500 cash 2011

[dpinpon]

Absolutely no idea this week. None at all. Wild guess is putting it mildly. 1320 or 1268???? Well confused. Going with a small downward move because this strength may be rocked once the Euro fiasco is digested. Italian bonds signalling more rocky road up ahead... 🙁


1268 Please Pat.

No blaming here for your confuse, as the overall market is too and done with a dangerous dojy last week. Maybe, just maybe we need to take a breather and end next friday at around 1275.
Best of lucks and lots of dough to you all👍.

 

[isatrader]

1302 for me please Pat

 

[robster970]

I can't see this move getting higher than 1310 but I reckon it's not figured that out yet.

1304 for me.

 

[wackypete2]

What with those idiots in Brussels pumping in a trillion euros I expect it will rise.
So 1311 for me.
Still haven't figured out who is pocketing all that dosh.
Looks like a smoke and mirrors 3 card trick to me,where the usual fatcats quietly make off with all but a few crumbs.

Agree. Would anyone really be surprised if that's the case?

1250 for me.

Peter

 

[Gaffs1964]

1260 for me please

 

[LuKOs.ro]

risk off - 1230

 

[DonStar]

A Bold 1325 before we head South...

 

[Atilla]

Blimey - straight drop to 1260s already.

Now this should have happened last Friday at market close...

Who would have guessed. 🙄

 

[Pat494]

average = 1281
wt av = 1283

up = 4
down = 7

highest = 1325
lowest = 1230

analysis works
:clover:

 

[robster970]

Blimey - straight drop to 1260s already.

Now this should have happened last Friday at market close...

Who would have guessed. 🙄

I'm not suprised by the drop tbh, the overnight and open outside friday's range to the downside might have been a bit of a clue. What's got me a bit was the fact that it did not even vaguely try and return back to the 80's at all - no buyers!

So I'm watching for buyers to come in hard about 1255ish now or for more sellers to come in hard about 1282ish. It's currently in no-mans land loitering around 1270 IMO waiting for news.

 

[isatrader]

There's nothing on either side today. The drop was the Japan fx intervention overnight, but the lack of volume/activity seems to be to do with the MF Global problems at the exchanges IMO.

 

[Atilla]

I'm not suprised by the drop tbh, the overnight and open outside friday's range to the downside might have been a bit of a clue. What's got me a bit was the fact that it did not even vaguely try and return back to the 80's at all - no buyers!

So I'm watching for buyers to come in hard about 1255ish now or for more sellers to come in hard about 1282ish. It's currently in no-mans land loitering around 1270 IMO waiting for news.

I'm not sure to be honest. Last Friday I thought we were looking at a BBand breakout above 1230. So I think the pull back could be anywhere 1230-50 imho. Cd be 1240 take middle ground. So it will either pullback 1240 adn march forward or if support fails - test 1130s again.

I think support will hold around 1240 so after some pull back onwards and forwards but only after Thursday please 😉

 

[robster970]

I'm not sure to be honest. Last Friday I thought we were looking at a BBand breakout above 1230. So I think the pull back could be anywhere 1230-50 imho. Cd be 1240 take middle ground. So it will either pullback 1240 adn march forward or if support fails - test 1130s again.

I think support will hold around 1240 so after some pull back onwards and forwards but only after Thursday please 😉

I'll go with 1242 as a possibility too. What's a couple of points between friends eh...

 

[Atilla]

I'll go with 1242 as a possibility too. What's a couple of points between friends eh...

Hehe - agreed. I like the number 42 too 🙂

 

[robster970]

Hehe - agreed. I like the number 42 too 🙂

In all seriousness, there's about 250k contracts traded around 1248.50 and 1238.00 on ES with not a right lot in between. I'm going on the former holding tomorrow under a bit of volume.

e2a - don't think 1248 on ES is going to hold - onwards to 1238 then........

 

[isatrader]

In all seriousness, there's about 250k contracts traded around 1248.50 and 1238.00 on ES with not a right lot in between. I'm going on the former holding tomorrow under a bit of volume.

e2a - don't think 1248 on ES is going to hold - onwards to 1238 then........

Another factor around that level is the weekly S1 pivot level at 1239.88 if you take notice of those levels in your trading.

 

[Pat494]

Still early in the week isn't it ?
Just a bit of a pullback before marching up the hill again imho.

Giddy up ole girl

 

[Atilla]

Still early in the week isn't it ?
Just a bit of a pullback before marching up the hill again imho.

Giddy up ole girl

I reckon the ole girly will be on her back for some more days getting the joints lubricated... 👎

 

[Atilla]

Core blimey - bears are having a picnic...

 

[robster970]

Core blimey - bears are having a picnic...

Indeed next levels for dinner around 1213, 1203, 1195

I expect to see buyers coming back around here for the enxt few days, you know build a base, go back for a re-test and then upwards again.

Famous last words.