Updated Every Saturday by 8pm PST
Weekly Stock Market Update & Forecast: March 16th, 2024
A negative week with the Dow Jones down 8 points (-0.01%) and the Nasdaq down 112 points (-0.69%)
The market continues to behave, more or less, as anticipated. We are now a week away from our March 25th (+/- 2 trading days) TIME turning point. This suggest we will see a rally over the next few days that will take the Dow into our 40K range and complete the pattern we have been talking about for 1.5 years.
We will begin our short-term triangulations next week in an attempt to pinpoint the exact top. Please follow our daily and Intraday updates for that information.
Once again, we are now approaching our final target range outlined below. And right on time. Longer-term, the market is playing out exactly as it should or as per our overall forecast. In terms of putting in new all time highs before turning down into a major bear.
As per our updated calculations we have the following targets for final highs. And as of right now we are on time/schedule.
-
-
- SPX: March 25th +/- , PRICE Target 5,200 (+/- 100 points).
- Dow: March 25th, PRICE Target 40,000 (+/- 500 points)
- NDX: March 25th, PRICE Target 18,300 (+/- 200 points)
-
And once the said top is put in place, the market should shift its gears into a severe bear. We need to re-calculate our bottom projections again, but if I recall correctly, a re-test of 2020 bottom is probable. We can wait for this until the market confirms the top.
End of Update —————–