When will the stock market hit 13,000 again?

Question

When will the stock market hit 13,000 again?

Answer 1

Unfortunately there is no crystal ball.  There is a lot going on in the market place that can keep this going down.

The DJIA hit a low of 10827.71 on July 15 from the previous swing high of 13136.69.

If we do basic retracements off of this movement 12,254 and 12,647 will be areas of resistance.   That means when it reaches these levels the market will sell driving the prices down.

As it looks presently, we have bounced back to 11,700 which is an initial area of resistance.  If we can get enough volume to push us through here (a commitment on buyers part) then we might reach the above numbers.  If the market fails to make the commitment it will fall back to the lows and dependant on the commitment of sellers could fall to new lows.

There are no rules in the market, just would like you to see the options.  Watch the prices above to see who is committed and will hold direction, the buyers or the sellers.

Answer 2

After it hits 12,999.

It's really hard to predict where indexes will be, and  when. If we could do this with certainty, one could become very very wealthy.

You're asking that when will the market go 14% from todays cosing (07-24-08 - DJIA 11349 to 13,000 target)). I don't see this happening this year at all.

Answer 3

Just before it hits 13,001.

No one has a crystal ball that can give you valid information about the future.