The DJIA had an unusual end to the week. There was a new all-time high on Thursday and on Friday there was a global outage of Microsoft Windows running on back office IT servers. On Friday all the data feeds on the brokerage websites I use were down so no trading was possible. I expected panic and a much larger decline on Friday, but the DJIA was only down 377.49 points. For the week the DJIA was up 286.63 points and closed the week at 40,287.53. The new all-time high was 41,376.00 on Thursday, July 18, 2024.
The DJIA fell a little more than 1,000 points from the all-time high on Thursday to the close on Friday. If this decline continues next week, it should only be temporary. On the chart below the blue line is the best fit historical cycle from 1925. The prices are the daily DJIA and the green line is the current percent change line. The DJIA price has made a new all-time high in July as I expected. The 1925 cycle continues up in August and September. Any decline should be temporary, and I expect new all-time highs in August and again in September.
My current forecast for the DJIA is for temporary decline and continued rallies. The price should reach at least 45,000 in September 2024.
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