On June 3, 2024 the Engrbytrade™ 1974 Dow Model was updated to reflect a 7 point structure developed in 1973 – 1974. At that time the Dow was expected to follow the 1974 peak and start a decline. In late May 2024, the Dow failed to drop below the April 2024 low and continued to move higher. This extension of the upward trend has continued until now with the Dow positioned to continue its decline. Using the current Engrbytrade™ 1974 Dow Model a close below 41,647 would indicate a continuation of the decline going into 2025.
Note that this information is for educational purposes only and not a recommendation.
Charts courtesy of StockCharts.com.
