Dow Jones – Weekly Analysis
The Dow Jones is on the verge of a major move. Join today for full insights and stay one step ahead.
CANDLES
The Dow Jones closed Friday with multiple bullish candles across various short- and mid-term timeframes. Short- and long-term trends remain bullish, while mid-term trends are recovering with strong technical support.
The index remains bullish until reversed.
ELLIOTT WAVES
Long Term
(no change, just an updated chart)
I believe the Dow Jones is now positioned to follow the red path outlined in my long-term chart, last updated in December 2024. I’m keeping the original chart elements intact, as the current structure continues to align with that scenario. In this setup, wave 5 of the larger impulse could extend for a year or longer, potentially driving the Dow toward the $50,000+ level.
That said, this assessment is still preliminary. Confirmation will depend on additional data that has not yet materialized. Until then, the outlook remains cautiously optimistic.
Road Map
The road map chart outlines the preliminary targets for wave 5 in red.
SUMMARY:
This weekly closure further reinforced bullish momentum. As I noted in the monthly review on June 1: “The Dow Jones appears to be aligning with the red path outlined in the long-term chart last updated in December 2024. If this scenario holds, the index is currently in wave 5 of a larger impulse, which could extend for a year or longer and potentially push the Dow above 50,000.”
This hypothesis is gaining technical support.
At the same time, the blue count remains on the table, its odds are low—though not zero.
The index remains bullish until negated.
Happy Trading!
