In 2011 Jeffery Hirsch released his book "Super Boom". The main theme of the book was that Jeffery expected the Dow Jones Industrial Index to hit a high of 38,820 in 2025.
Jeffery build the case on the back of his father, who made a similar call back in 1974 when the DJI was at 570 to rally 500 percent to 3,420 by 1990 which is did.
Well the Hirsch family did it again as the DJI just hit an all-time high of 38,927 on February 2024. Well it was a year early, but I personally will not hold that against him.
We do see a clear divergence from the RSI, where the RSI indicator no longer confirms the high made in the DJI. Price has hit the upper resistance-line of the price-channel and finally a five wave rally can be counted from the 1932 low at 40,56. So the possibility of a major top in 2024 or 2025 is higher and should result in a lager correction towards 18,640 as we approach the end of the century should not come as a surprise.
That said, it's also important to stress, that once the correction is complete more upside is expected and a new major rally is in the cards.
So hats off for Jeffery Hirsch call back in 2011.
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