As of 03/03/2026
  Indus: 48,501 -403.51 -0.8%  
  Trans: 19,686 -72.49 -0.4%  
  Utils: 1,173 -7.47 -0.6%  
  Nasdaq: 22,517 -232.17 -1.0%  
  S&P 500: 6,817 -64.99 -0.9%  
YTD
 +0.9%  
 +13.4%  
 +9.9%  
-3.1%  
-0.4%  
  Targets    Overview: 02/27/2026  
  Up arrow50,500 or 47,900 by 03/15/2026
  Up arrow20,200 or 18,150 by 03/15/2026
  Up arrow1,300 or 1,160 by 03/15/2026
  Up arrow24,750 or 21,800 by 03/15/2026
  Up arrow7,250 or 6,600 by 03/15/2026
As of 03/03/2026
  Indus: 48,501 -403.51 -0.8%  
  Trans: 19,686 -72.49 -0.4%  
  Utils: 1,173 -7.47 -0.6%  
  Nasdaq: 22,517 -232.17 -1.0%  
  S&P 500: 6,817 -64.99 -0.9%  
YTD
 +0.9%  
 +13.4%  
 +9.9%  
-3.1%  
-0.4%  
  Targets    Overview: 02/27/2026  
  Up arrow50,500 or 47,900 by 03/15/2026
  Up arrow20,200 or 18,150 by 03/15/2026
  Up arrow1,300 or 1,160 by 03/15/2026
  Up arrow24,750 or 21,800 by 03/15/2026
  Up arrow7,250 or 6,600 by 03/15/2026

Bulkowski's 2025 Forecast Update

Below is the updated forecast for 2025 as of the close on April 30, 2025. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.

On some of the charts (all except the CPI chart) 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 / 5
chart pattern indicator

This is a chart of the Chart Pattern Indicator (CPI) on the daily scale.

I drew vertical red and green lines to highlight the peaks and valleys in the CPI versus the market. This is year-to-date. Signals above 65% are bullish, below 35% is bearish, with neutral between those two. Use the right scale for the CPI. We're currently bullish with a 82.7 reading.

The next chart looks at the Dow industrials.
2 / 5
Dow industrials chart

This is the Dow industrials on the daily scale. The forecast looks flat because of the tall swings the market has made this year. Expect weakness in August.

The next chart looks at the Nasdaq forecast.
3 / 5
Nasdaq chart

The Nasdaq looks similar to the Dow chart. Weakness in August and September. If the forecast is correct, the Nasdaq will gain 19 percentage points (down 10 to up 9). In other words, it's not a bad time to buy.

The S&P 500 forecast is next.
4 / 5
S and P chart

Similar chart, but using the S&P 500 index. Weakness in August (green line).

Ten years forecast next.
5 / 5
10-year forecast in dow

This is for Ronda.

In 2028, look for about 2 years of sideways movement. After that, the Dow climbs to 2035 with a stiff decline in 2032.

I also show the forecast gains for the three indices. Dow: up 126% in 10 years, Nasdaq: 221%, and S&P: 160%.

The end.

See Also

 
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