Dow 20,000 Is Possible (This Year)
Dragonfly Capital | May 08, 2013 08:45AM ET
With the Dow Jones Industrial Average closing over the 15,000 mark for the first time ever, it begs the question, just how high can it go? This will not be a 200 page book on the subject using historical P/E ratios or other measures. A simple Harmonic pattern shows that a reasonable target is 16,810 and that 20,770 is within the realm of possiblility. Take a look.
The move off of the March 2009 low to the peak at 12,876 in May 2011 took two years and two months. Using a simple AB = CD pattern applied to the Monthly chart of the Dow (Original post
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