Stock Market Update 6/4/23, Updated 8/19/23, 3/11/24

 

Biweekly chart of the Vanguard 500 Index Fund ETF as of 6/4/23. The October/2022 stock market low should be the final low and the current market is showing signs of wanting to melt up. I would not be surprised to see a test of the all-time highs sooner rather than later... Possibly even July to September. The blue line shows a possible track of my favored count based on estimated wave relationships. Primary wave 1 of cycle wave 5 is shown as a surmised high around August. Update, 8/19/23: The recent decline has not changed my view...still looking for the January/2022 high to be reached or exceeded by the end of 2023 or January/2024. Update 3/11/24: The major US stock indexes look to be at or near the 2024 highs with a possible secondary high by mid-year. The Dow Industrials peaked on 2/26/24.