Forecast 2023 Scorecard- As of August 1, 2023
August 04, 2023
FORECAST 2023 SCORECARD AS OF JULY 24, 2023
Every year gets better and better with our forecasts. Although 2023 is not yet over, several forecasts made in the Forecast 2023 Book have already unfolded. We will list a few of the forecasts below as of July 24. Keep in mind these forecasts were written in October-November 2022, and published December 2022, well before 2023 got underway. As far as market sectors go, 2023 was an awesome year for forecasting, with the exception of Gold, which bottomed as we were writing the 2023 book. Particularly awesome were the Stock, currencies, and Bitcoin markets. Read below.
ECONOMIC AND MARKET FORECASTS FOR 2023 (written August 1-November 20, 2022)
The U.S. Stock Market and DJIA: “Our focus will be on a 3-year cycle low due March 2023 +/- 6 months. It may have already happened on October 13, 2022, when prices fell to 28,660. The price target for this low is 27,582 +/- 2211 At the same time, we do not expect the DJIA to rally more than a range of 2% from the all-time high of 36,952 of January 2022, and maybe not even that high. Traders may look to buy on declines to 27,500-29,000 in 2022 with stop-losses based on one’s risk tolerance and sell if the DJIA shows resistance between 35,500-37,500, especially if it happens near a geocosmic critical reversal date listed below.” As of August 7, the low of October 13, 2022 is holding and the high is now 35,679, in our upside price target range given. Six of the eight (and maybe 7 of the 9) critical reversal dates given have been within one trading days of a major reversal so far