Dow Jones Gap Up and Break Away 47,000 By Year EndBecause the Dow is accelerating in its trend and the fact that last week was a bullish hammer, it is no Suprise that this week opened with a 0.5% gap up and rally.
I believe the rest of the week and the rest of the year will be extremely bullish with a target of 47,000 by year end. This will give 2024 a 20% gain for the year. It has been a very bumpy ride with its constant shake offs. Every time it has performed a shake off, it has rallied to new highs just as fast.
How I arrived at 47,000 was using two times the range expansion of the range formed up until August. It wasn't until August that the trend started to pick up steam.