As of 03/28/2024
  Indus: 39,807 +47.29 +0.1%  
  Trans: 16,212 +183.07 +1.1%  
  Utils: 882 +7.51 +0.9%  
  Nasdaq: 16,379 -20.06 -0.1%  
  S&P 500: 5,254 +5.86 +0.1%  
YTD
 +5.6%  
 +2.0%  
 +0.1%  
 +9.1%  
 +10.2%  
  Targets    Overview: 03/13/2024  
  Up arrow40,000 or 38,500 by 04/01/2024
  Up arrow16,300 or 15,350 by 04/01/2024
  Up arrow885 or 830 by 04/01/2024
  Up arrow16,600 or 15,200 by 04/01/2024
  Up arrow5,350 or 5,100 by 04/01/2024
As of 03/28/2024
  Indus: 39,807 +47.29 +0.1%  
  Trans: 16,212 +183.07 +1.1%  
  Utils: 882 +7.51 +0.9%  
  Nasdaq: 16,379 -20.06 -0.1%  
  S&P 500: 5,254 +5.86 +0.1%  
YTD
 +5.6%  
 +2.0%  
 +0.1%  
 +9.1%  
 +10.2%  
  Targets    Overview: 03/13/2024  
  Up arrow40,000 or 38,500 by 04/01/2024
  Up arrow16,300 or 15,350 by 04/01/2024
  Up arrow885 or 830 by 04/01/2024
  Up arrow16,600 or 15,200 by 04/01/2024
  Up arrow5,350 or 5,100 by 04/01/2024

Bulkowski's 2020 Forecast July Update

Released 6/30/2020.

Forecast Updated for July 2020

Below is the updated forecast for 2020 as of June 30. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.

The prediction in red is based on the work of Edgar Lawrence Smith in the 1930s. Smith said that the stock market followed a 10-year cycle. Each year tended to repeat the behavior of the year a decade earlier. In other words, if you averaged all years ending in 1 (2001, 1991, 1981 and so on), that would give you a forecast for 2011. For 2012, you'd make a similar average, only use 2002, 1992, 1982, and so on. That's what I did for the market forecast charts which follow.

 

1 / 4
chart pattern
This is a graph of the chart pattern indicator (CPI) against the S&P 500 index. Briefly, the CPI counts the number of bullish patterns to bearish ones in the belief that at significant market turns, the bearish patterns will outnumber the bullish ones, or vice versa. The thin blue line at the bottom of the chart is the CPI.

The indicator shows it's still bullish with a reading of 88, near the top of the 0-100 scale. As you can see, it turned green (bullish) two days ago.

The next chart looks at the 2020 forecast for the Dow industrials.
2 / 4
chart pattern
Because of the steep drop in the Dow, the forecast looks flat (the large swing compressed the scale. See the entire forecast here, without compression).

The red line is the forecast, taken a year end 2019. At B, a broadening top appears. At A, I drew a green line where the index is resting on support. Circled in green is a predicted rise in the index. The year ends about where it began.

The Nasdaq forecast is next.
3 / 4
chart pattern
Here's a chart of the Nasdaq. The two vertical orange lines show what is predicted to happen during August. The index should rise for 2 weeks and then drop, ending a bit lower than where it started. They horizontal cyan line, or whatever color you see, is where the index is predicted to close the year, significantly lower than where it started.
The next chart shows the SPX (S&P 500).
4 / 4
chart pattern
Here's the S&P 500 (SPX, really) on the daily scale.
The two vertical orange lines show what is predicted to happen in August. The month should end higher. AB marks a potential double bottom. At year's end, the prediction shows the index about flat for the year.
The end.

See Also

 
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