As of 02/09/2026

Indus: 50,136 +20.20 +0.0%

Trans: 19,754 -138.54 -0.7%

Utils: 1,091 +1.25 +0.1%

Nasdaq: 23,239 +207.46 +0.9%

S&P 500: 6,965 +32.52 +0.5%

YTD

+4.3%

+13.8%

+2.1%

0.0%

+1.7%

Targets Overview: 02/02/2026

50,500 or 48,000 by 02/15/2026

20,000 or 18,000 by 02/15/2026

1,135 or 1,050 by 02/15/2026

24,750 or 22,000 by 02/15/2026

7,250 or 6,700 by 02/15/2026

Chart Pattern Indicator:

on 2/4/26

As of 02/09/2026

Indus: 50,136 +20.20 +0.0%

Trans: 19,754 -138.54 -0.7%

Utils: 1,091 +1.25 +0.1%

Nasdaq: 23,239 +207.46 +0.9%

S&P 500: 6,965 +32.52 +0.5%

YTD

+4.3%

+13.8%

+2.1%

0.0%

+1.7%

Targets Overview: 02/02/2026

50,500 or 48,000 by 02/15/2026

20,000 or 18,000 by 02/15/2026

1,135 or 1,050 by 02/15/2026

24,750 or 22,000 by 02/15/2026

7,250 or 6,700 by 02/15/2026

Chart Pattern Indicator:

on 2/4/26

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

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

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

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

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.

❮ ❯

Bulkowski's 2020 Forecast July Update

Forecast Updated for July 2020

See Also