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.