As of 03/27/2024
  Indus: 39,760 +477.75 +1.2%  
  Trans: 16,029 +177.70 +1.1%  
  Utils: 875 +23.30 +2.7%  
  Nasdaq: 16,400 +83.82 +0.5%  
  S&P 500: 5,248 +44.91 +0.9%  
YTD
 +5.5%  
 +0.8%  
-0.8%  
 +9.2%  
 +10.0%  
  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 03/27/2024
  Indus: 39,760 +477.75 +1.2%  
  Trans: 16,029 +177.70 +1.1%  
  Utils: 875 +23.30 +2.7%  
  Nasdaq: 16,400 +83.82 +0.5%  
  S&P 500: 5,248 +44.91 +0.9%  
YTD
 +5.5%  
 +0.8%  
-0.8%  
 +9.2%  
 +10.0%  
  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 May 2020 Forecast Update

Released 4/30/2020.

Forecast Updated for May 2020

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

 

1 / 5
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.

This chart hasn't changed much since two days ago when we saw it last. The bearish divergence is more pronounced, perhaps. The indicator line took a big dip today. If we get another down day, the signal might flip from bullish to bearish.

The next chart looks at the 2020 forecast for the Dow industrials.
2 / 5
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. I drew two vertical green lines as references to the major bottom and to today's price. The forecast is for the Dow to close the year at 28,838.95.

If the forecast works, expect the Dow to stay lower until the start of July 2020, then a recovery to the October low and up from there to year end.

The Nasdaq forecast is up next and it's two slides long. Tell your friends!
3 / 5
chart pattern
Here's a chart of the Nasdaq. The vertical blue line marks the recent low with the prediction in red. Notice how the index drops going into year end. I drew a horizontal green line to show the price where it ends the year

The next chart shows the Nasdaq forecast on the monthly scale for a 10-year look.

4 / 5
chart pattern
Here's a chart of the Nasdaq but it's on the monthly scale so you could see what's coming in the next decade. It's not pretty, is it?

The index struggles until mid 2022 and then makes a strong push higher, almost tripling from the 2021 low.

The next chart shows the SPX (S&P 500).
5 / 5
chart pattern
Here's the S&P 500 (SPX, really) on the daily scale. Green vertical lines mark the low and today's price, mapped on the indicator. The forecast remains flat for the year.

See Also

 
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