NEoWave Blog
2/26/2024 - NEoWave Staff

DOW JONES HITS 39K - Just as Glenn Neely predicted in his 1988 long-term forecast

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Patrice R.B. / NEoWave Editor / 2 Minute Read

On November 24, 2020, the Dow Jones Industrial Average closed above 30,000. On July 23, 2021, the Dow crossed the 35,000 mark. On January 15, 2024, the Dow rallied to 39,000. Today (February 26, 2024), it closed at 39,069. Will we see 40,000 soon? Possibly!

These all-time highs continue to surprise many traders and Elliott Wave forecasters. However, one trader and Wave forecaster is NOT surprised: Glenn Neely, founder of NEoWave. In fact, many in the orthodox Elliott Wave crowd are expressing shock by the recent new highs, certain that the markets would be tumbling down, down, down right now. While markets do move up and down, Glenn Neely's NEoWave predicts a continued, long-term upward trend. The continued accuracy of this astonishing long-term forecast is proof that NEoWave (advanced Elliott Wave) has a far more accurate track record than Orthodox Elliott Wave.

However, one trader and Wave forecaster is NOT surprised:
Glenn Neely, founder of NEoWave.

In 1988, Mr. Neely published a 72-year Elliott Wave forecast predicting that the U.S. stock market would continually and exponentially escalate in the coming decades. The current market high indicates that his astounding long-term forecast is still on track!

Now, after 33 years, it appears this 72-year Dow Jones market forecast may be the most accurate long-term forecast ever published!

Mr. Neely points out that he published his long-term Dow forecast in 1988. When he recorded his video workshop (see video below) in 1995, the Dow had not yet reached 5,000.

"At the time, I was calling for a massive Bull market, projecting the Dow to get to 30,000 and higher over many years, and we are there now."

He says, "This three-decade-long Elliott Wave forecast is still working!"

Glenn Neely adds: "It's interesting to note that orthodox Elliott Wave forecasters have basically been proclaiming 'end of the world' bear markets for nearly every one of the last thirty years. My long-term bullish outlook is a HUGE differentiator between NEoWave and the orthodox crowd. Currently, the Dow is about halfway through the longest vertical price advance drawn on the chart that I included in my 1988 forecast."
 

Neely, Glenn, 1995, "Glenn Neely: Elliott Wave for the Stock Market"
YouTube: https://www.youtube.com/watch?v=UxJ_MZK5LOA&list=PLzIufSBn0mTcDBNqu370UyyOUwskcRctc&index=4

Glenn Neely's published 72-year Elliott Wave forecast

He wrote in 1988, "This advance should last for decades, creating the biggest bull market of all time (see Figure 6)." The graph below shows the market as he predicted decades ago.

Stock Market Forecast to the Year 2060

 

 

 

  • Neely, Glenn; Hall, Eric (1990-04-01). Mastering Elliott Wave: Presenting the Neely Method: The First Scientific, Objective Approach to Market Forecasting with the Elliott Wave Theory (2nd ed.). Brightwaters, NY: Windsor Books. p. 1. ISBN 978-0-930233-44-0

  • "Stock Market Forecast to the Year 2060". elliottwaveforecast2060.com. Retrieved 2020-11-20

 

Read Glenn Neely's original article written and published in 1988

Read Mr. Neely's article, titled "The Future Course of the U.S. Stock Market: An Elliott Wave Viewpoint," which steps through his 72-year stock market forecast. When you read the article, you can track the Dow's progress from 1988 to present day, along with Mr. Neely's forecast all the way to 2060.

Article published in the Foundation for the Study of Cycles publication in its September/October 1988 "Elliott Wave" issue.

Read the article
Stock Market Forecast to Year 2060 by Glenn Neely

Watch a brief video of Mr. Neely explaining his long-term forecast

In this 10-minute video workshop, Glenn Neely explains his long-term forecast. In 1995 - when the Dow was below 5,000 - Mr. Neely presented a workshop where he stepped through the reasoning behind his long-term (72-year) forecast. Thankfully, this workshop was recorded, and you can watch the video! In this video, he notes that the Dow would reach the "astounding" level of 20,000, 30,000 and even higher - a goal that most traders and Elliott Wave analysist considered to be impossible at the time!

Watch the video

Highlights from Glenn Neely's 1995 video (when the Dow was below 5,000):

  • Mr. Neely starts by showing the Wave structure for the entire history of the U.S. stock market, pointing out the long-term growth trajectory.

  • He explains that his long-term (72-year) forecast - published in 1988 - indicates the stock market will continue to progress and advance for decades, going into about 2060.

  • In this video, Glenn Neely says,

"The future force - or power - of the market is so great that the correction is stretched upward ... an upward drift that concludes a huge double-three-running second Wave correction [that began] in 1949. The market began its largest, most powerful, persistent advance in the history of the United States. ... What does that tell you? It tells you the market isn't slowing down. We're moving into a period of increasing momentum. [As a reminder, the Dow was below 5,000 at the time of this 1995 video.] ... Eventually, on a long scale, we're talking about the Dow going up to 10,000, 20,000, 30,000, 40,000, or 50,000 over about 60 years. This sounds outrageous to a lot of people. ... When you think of it in terms of historical logarithmic percentages, it's very plausible. ... This is extremely possible."

Neely, Glenn, 1995, "Glenn Neely: Elliott Wave for the Stock Market"
YouTube: https://www.youtube.com/watch?v=UxJ_MZK5LOA&list=PLzIufSBn0mTcDBNqu370UyyOUwskcRctc&index=4

 

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