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You may ask! How is it going thus far in 2024 for the major market indices?

Writer's picture: Paul ThurstonPaul Thurston

You may ask! How is it going thus far in 2024 for the major market indices?  


As we move to the end of January of 2024 markets have reached all time highs for both the DJIA and S&P 500 while the NASDAQ Composite reached it's highest level since January 3, 2022 with both the DJIA and S&P 500 reaching record highs six times each since the beginning of the year.


The question you may ask is...


Will this continue?


Well we have to wait and see for at least another couple of days, weeks, months, or even years as we are facing economic conditions that can and may change at any moment.


Here's how the major market indices faired since Monday January 1, 2024.  


DJIA ended trading on Monday January 29, 2024 at 38,333.45 which was +643.91 points or +1.71% above the close on Friday December 29, 2023, the last trading day of 2023. 


S&P 500 ended trading on Monday January 29, 2024 at 4,927.93 which was +158.1 points or +3.3% above the close on Friday December 29, 2023, the last trading day of 2023.  


NASDAQ Composite ended trading on Monday January 29, 2024 at 15,628.04 which was +616.69 points or 4.11% above the close on Friday December 29, 2023, the last trading day of 2023.    


Yes, we are in a 'BULL-Market' for at least two of the major market indices however the market can and may sway into a 'CORRECTION' at any moment with intances of high volatility (VIX) with the current economic and non-economic conditions, but it could however ascend even further as we move further into 2024.  


Will we see a continuation of this 'BULL-Market' for the major market indices as we move further into 2024 or will we see a route in the major market indices with a landslide of a downward trend.  


All of this will be answered in future days, weeks, months, and years!


Will this 'BULL-Market' continuie in 2024 and will we see the 'FANTACY-Numbers' and 'FANTACY-Levels' I mentioned late in the third quarter or early in fourth quarter of 2021 or will we see a 'CORRECTION' and subsequent 'BEAR-Market' with levels of the major market indices not yet reaching what I coined as 'FANTACY-Numbers' and 'FANTACY-Levels' which were not reached in 2022 however have been getting ever near since the beginning of 2024.


Below are the 'FANTACY-Numbers' or as I described previously as 'FANTACY-Levels' along with the percentage increases necessary for attaining such 'BULL-ish' claims.


DJIA 'FANTACY-Level':


42,400.00 which would be an approximate +10.6% increase.


S&P 500 'FANTACY-Level':


5,800.00 which would be an approximate +17.6% increase.


NASDAQ Composite 'FANTACY-Level':


18,400.00 which would be an approximate +17.7% increase.


Now, if we see these 'FANTACY-Levels' reached in 2024 or even 2025 it would be an utter and resounding wow or two and wouldn't that be nice or even more and more nice!


Be well and stay well! All the best...



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