In this post we will discuss the predictions for the three US stock indices for the week of 6/24/2024. Note that the following predictions will how dates as 6/22/2024 and 6/23/2024 as the first two trading days. This is an error because these days correspond with Saturday and Sunday. So, the reader should mentally transition these first two trading days to Monday and Tuesday, i.e., 6/24/2024 and 6/25/2024. We will discuss the predictions for SP500, NASDAQ, and DJIA, which are US stock indices.
Starting with SP500, we note that our predictions give us the following:
We started to observe a slight downtrend at the end of last week. At the start of this week, we can expect a continuation of this downtrend for the first 1.5 trading days, or until US NY Session on Tuesday. Then the price should generally hover around the lows of the week, making a slight recovery near the end of the week.
Next, we look at the NASDAQ trend or NAS100 index trend below:
Similar to SP500, NAS100, can be expected to observe a downtrend for the first trading day of the week. However, starting Thursday, we can expect NAS100 to make a full recovery and surpass the weekly high. by the end of the week.
Lastly, lets look at DJIA trend expectation for this week:
DJIA has been relatively uncorrelated to the rest of the indices recently. We note that DJIA is anticipated to show the weakest trend for the week of 6/24/2024 with a projected consistent downtrend throughout the week.
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