Dow Jones – Weekly Review
In this Weekly Analysis of the Dow Jones, we’ll review the recent signals, highlight key trends across multiple time frames, and discuss any adjustments required after the latest developments. A few subtle shifts have emerged that could influence the next moves—so it’s worth paying close attention to how the setup evolves in the coming weeks.
CANDLES
The Dow Jones closed the 15D frame with a moderately bullish candle and confirmed a 50/200 daily golden cross—an encouraging long-term signal. However, both the daily and weekly closures were moderately bearish, suggesting the potential for continued sideways consolidation before the rally resumes. All key trends remain bullish. While the short-term odds are neutral for now, the long-term outlook continues to be firmly bullish.
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.
Road Map
The Dow Jones has better odds of pushing the price up toward the ~$45,600–46,000 range to complete wave (iii).
Inverse Head & Shoulders (IHS) & Flag
On June 24, I set the next major target for the Dow Jones at $49,600, projecting about a 15% gain from the $43,200 level. That target remains intact.
SUMMARY:
The Dow Jones remains neutral on the short-term frames, with a potential for further corrective movement. Once this phase concludes, the index is expected to resume its rally toward new highs. The long-term odds and trends continue to support a firmly bullish outlook.
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 continues to gain technical support and solid bullish momentum.
Happy Trading!
