US stock market Wall Street forecast 2024: will it collapse or new tops? By Francesco Massetti Posted on 20 September 2024 Condividi su Facebook Condividi su Twitter Condiviso su Google+ Condiviso su Pinterest Condiviso su Linkedin Condiviso su Tumblr trading signals American stock exchange Dow Jones trading signals American stock exchange Dow Jones US stock market tomorrow forecasts and trading signals US stock market in the short and long term analysed through the technique of American economist WD Gann Weekly Dow Jones stock market chart with Gann angles Dow Jones Weekly Index Short-term US stock market forecasts Between the week of 14 October 2022 and the week of 27 October 2023, an accumulative phase was generated, the minimum of which reached the 1X8 angular support at 32,327, irradiated in the picture in the blue lower part. The Minimum Square which expired the following week, on 03 November 2023, triggered the new propulsive action, which pushed the American Stock Exchange’s quotations up to the static Octave resistance at 39.889, in the week of 22 March 2024. A slight correction followed, reaching the previous Octave static support area, but since April, the Wall Street Stock Exchange has failed to restart a series of robust returns as in the previous period. Instead, it has generated a new accumulative phase, shorter than the previous period. Indeed, one can observe in the picture just above the formation of a new triple minimum in the weeks of 19 April, 31 May, 09 August 2024. The last expiring signal coincides with the week of 20 September 2024. The price dynamics confirmed the short-term positivity with first targets in the area 42,300; 43,190. Only a return below 39,960 will indicate a new negative sideways phase: supports in the 43,390 area. Dow Jones monthly performance Dow Jones Index The Maximum Square that expired in October 2022 decreed the restart of the medium-term bullish trend. As can be seen in the picture, the various horizontal levels constituting the octave supports and resistances generated a period of sideways, following the Monthly Set Up of October 2022. Only after the expiry of the November 2023 Low Square did the US stock market generate robust returns: from November 2023 at 33,010 the Dow Jones arrived at the partial top of the ascending corridor in March 2024, at a level of 39,889 points. This price/time ratio expressed by the 1X1 corner in red had already blocked the New York Stock Exchange in the first period of 2022. The bullish out-side last August confirmed the willingness to break through this resistance to the upside in order to reach new uncharted territory. The new natural cycle expiring in September 2024 confirmed the bullish trend of the Dow Jones, with first targets in the 43,370; 44,400 area. Supports in the 39,400 area. Long-term technical analysis Wall Street Stock Exchange Indice Dow Jones trimestrale The bullish momentum of the Dow Jones Index is positive and was further confirmed by the bullish breakout in Q3 2024. Next targets 44,100; 45,400 points. Dynamic obstacles for the downside retracement are at 38,130; 36,600. The report on the Dow Jones American Stock Exchange Index was exposed using the Gann technique with the help of the Top Trader(c) stock exchange software.
