As of 11/26/2025
Indus: 47,427 +314.67 +0.7%
Trans: 16,531 +129.97 +0.8%
Utils: 1,121 +14.81 +1.3%
Nasdaq: 23,215 +189.10 +0.8%
S&P 500: 6,813 +46.73 +0.7%
|
YTD
+11.5%
+4.0%
+14.1%
+20.2%
+15.8%
|
 47,800 or 45,000 by 12/01/202517,400 or 15,800 by 12/15/20251,150 or 1,090 by 12/01/202524,000 or 21,800 by 12/01/20257,000 or 6,500 by 12/01/2025 |
As of 11/26/2025
Indus: 47,427 +314.67 +0.7%
Trans: 16,531 +129.97 +0.8%
Utils: 1,121 +14.81 +1.3%
Nasdaq: 23,215 +189.10 +0.8%
S&P 500: 6,813 +46.73 +0.7%
|
YTD
+11.5%
+4.0%
+14.1%
+20.2%
+15.8%
| |
|
47,800 or 45,000 by 12/01/202517,400 or 15,800 by 12/15/20251,150 or 1,090 by 12/01/202524,000 or 21,800 by 12/01/20257,000 or 6,500 by 12/01/2025 | ||
Below is the updated forecast for 2025 as of the close on October 31, 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.
This is a chart of the Chart Pattern Indicator (CPI) on the daily scale.
The most recent signal is neutral, show here with a vertical white bar on the far right of the chart.
The index continues its upward move that started back in early April without a serious correction (such as that shown by the February to April drop caused by Trump's tariff scare).
This is a chart of the Dow industrials on the daily scale.
The index is well above the forecast, with a gain so far this year of 12% compared to the end-of-year gain of 4%.
If the index follows the forecast trend (green line), look for the uptrend to go horizontal in December.
This shows a chart similar to the Dow industrials. The actual gain is higher, at 23%, well above the forecast 9% rise (dividends not included in all forecasts).
This is a chart of the S&P 500 index on the daily scale.
It's similar to the trend shown by the prior two charts. Look for weakness starting in December.
This is the 10-year forecast. At B, in mid 2028 and again in 2032, B, we see weakness. Over the 10-years, look for the index to triple if it follows the forecast.
So far, the index is outperforming the forecast, so it may do better than a rise of 221% over the next 10 years.
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