On April 3, 2018, when the Dow Jones Industrial Average was at 24,033.36, we said the following:
“The downside risk is the most important element to watch for. In this regard we’re focused on the 18,575 level as the downside target. However, the 18,575 level can’t be achieved without first going through the 21,530 level. This, 21,530, happens to be the 50% Principle for the Altimeter. Therefore, the chart below is the outline of 21,530 as our next expected downside target.”
On March 23, 2020, the Dow Jones Industrial Average achieved a low of 18,213.65 on an intraday basis. The 18,213.65 level was within our target of 18,575 for downside risk.
Our updated analysis on the Dow Jones Industrial Average found here: Dow 10-Year Targets