Expert: Dow to go ‘super boom’
The Dow Jones Industrial Average will surge to 38,820 in an eight-year “super boom” beginning in 2017, according to Jeffrey A. Hirsch, editor in chief of “Stock Trader’s Almanac.”
Hirsch’s forecast comes more than a decade after Glassman and Hassett predicted the Dow would rise to 36,000 by 2005 in “Dow 36,000,” a New York Times best-seller. The 114-year-old average ended 1999 at 11,497.12 and sank as low as 7,286.27 in 2002 following the Internet bubble burst. The Dow then jumped to a record 14,164.53 in 2007 and fell to 6,547.05 in March 2009 after the worst financial crisis since the 1930s.