Weekly forecast for S&P 500

[wackypete2]

1125 for this week

Peter

 

[Pat494]

Not that any one needs post anything that explains what they think but this quick hand drawn chart shows a wave count that I am watching. It lines up with some time cycles that I have been watching also. Thing is it might not be done going up yet SO...:whistling

Interesting chart
In April I see it had 3 bars to the topside, of the pivot point, of the projected line and now it has 2 bars above the pivot point but to the bottom side - maybe this is significant ?

 

[Pat494]

Do you think it can get higher ? If yes how can i do the trade?

If YOU think its going higher you could try a long with a spread bet company ?

 

[N Rothschild]

I thought you were off travelling - you deferred until it gets unexciting again?

will be holding posistions while away

 

[robster970]

will be holding posistions while away

You'll never chill if you keep ringing your broker you know...............

 

[hwsteele]

Interesting chart
In April I see it had 3 bars to the topside, of the pivot point, of the projected line and now it has 2 bars above the pivot point but to the bottom side - maybe this is significant ?

Are you talking about the black lines on the chart?

 

[Pat494]

Are you talking about the black lines on the chart?

yes those lines

Is my point significant ?

 

[robster970]

I read that the Fed had bought up a load of tech stocks today to head off a rout that would hurt the NASDAQ............here we go.

 

[Pat494]

I read that the Fed had bought up a load of tech stocks today to head off a rout that would hurt the NASDAQ............here we go.

I didn't know the Fed bought stocks

Somewhere I read it is privately owned. Is this true ?

Not really the Official Bank of the USA. ie not like The Bank of England even tho you would think so from their pronouncements

 

[N Rothschild]

fed doesnt buy stocks, primary dealers do through the fed POMO

 

[nash02]

Hi

Apologies if this is not the correct thread for my question but can some one please enlighten me where to find real time volume chart/information on US indices ?

Many thanks

 

[robster970]

fed doesnt buy stocks, primary dealers do through the fed POMO

Still fed intervention tho isn't it?

 

[N Rothschild]

yup, its total bull****. thankfully pomoi ends start of october and the bears will have there revenge. the sept rally has been nothing more than a fed intervention short suqeeze melt up.

you will notice they schedual the pomo for days with major economic news. they need to **** off and let the market fight it out

 

[hwsteele]

yes those lines

Is my point significant ?

I must say the placement of the lines was to make them the most visible and had nothing to do with guesses as to where the market would be at any time.
In other words I drew the lines on the chart right before I posted it simply to give the example of how I see the current wave count.

SO

The placement of the candles/bars in relation to the lines has nothing to do with anything.

BUT

If you want it to you are more than welcome to see it that way!!:cheesy:

Cheers!

 

[robster970]

yup, its total bull****. thankfully pomoi ends start of october and the bears will have there revenge. the sept rally has been nothing more than a fed intervention short suqeeze melt up.

you will notice they schedual the pomo for days with major economic news. they need to **** off and let the market fight it out

So I was long at the start of Sept and came out after about 40pts when I thought there was weakness. Then for another 2 weeks it's been continuing to move up with little or no fundamentals to support it. I thought I was going mad and just put it down to irrational market. I had no idea that the POMO had been going on to buoy up the market. I only discovered it today when the 3pm news went completely in the 'wrong' direction after the opening sell-off. I thought i was losing my marbles. Crazy sh1t.

 

[Pat494]

I must say the placement of the lines was to make them the most visible and had nothing to do with guesses as to where the market would be at any time.
In other words I drew the lines on the chart right before I posted it simply to give the example of how I see the current wave count.

SO

The placement of the candles/bars in relation to the lines has nothing to do with anything.

BUT

If you want it to you are more than welcome to see it that way!!:cheesy:

Cheers!

Thx - just checking
They looked a bit like Elliot Wave lines tho

 

[Pat494]

Hi

Apologies if this is not the correct thread for my question but can some one please enlighten me where to find real time volume chart/information on US indices ?

Many thanks

yes you either pay for it via eSignal, Prorealtime etc or get a freebie via your spreadbet co or Yahoo

 

[TRADEFUTURES]

If the S&P 500 stays on this trajectory, 1320 by 15th December 2010 is possible.

 

[hwsteele]

Thx - just checking
They looked a bit like Elliot Wave lines tho

For the most part yes.

 

[joeph]

And what's the number then ?

Hi Pat494.

I do not post the prediction details here, only the main conclusions.
I is available on predictionwizard dat com, that I maintain with some of my Pals.
It is free for registered parties.

I will write some of my analysis on this forum in the future and follow the index - related threads.