DJIA Forecast May 11, 2024

The DJIA is moving as I expected. There should be a new all time high before the end of May and the DJIA will probably reach 40,000. Last week the DJIA was up 837.16 and closed the week at 39,512.84.

On the chart below the blue line is the best fit historical cycle which is from 1925. The alignment with this cycle starts on the October 27, 2023 low price. The green line is the current percent change line.

Based on the 1925 cycle my forecast is for a rally to the end of May. In the month of June 2024 there should be a choppy sideways market, but this will be followed by new highs in July 2024. The DJIA should reach 40,500 in July 2024.

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