Dow 60,000: Here We Come

The Dow Jones Industrial Average closed above 40,000 for the first time on Friday, May 17 (chart). Today it is back down slightly below this level. We hope the title of this QT doesn't turn out to be a jinx, but we are still aiming for Dow 60,000 by 2030 in our Roaring 2020s scenario. Along the way, there could be corrections and even another bear market. But we expect that earnings will drive the stock market higher.

Just for fun, we drew some trend lines on a chart of the DJIA and stumbled on a channel that started around 2010 which can be extrapolated to a range of 45,800 to 76,700 by the end of the decade. The mid-point is 61,250. Mark your calendars!