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The Tell: Dow 40,000 is coming, but only after ‘a large panic event’ passes, analyst warns

Back in January 2016, when the Dow Jones Industrial Average DJIA, -2.13% was trading around the 16,000 level, Yves Lamoureux, president of macroeconomic research firm Lamoureux & Co., said the blue-chip index would topple 25,000 within three or four years. It didn’t take that long.

Now, with the Dow clinging to a 500-point cushion above that milestone, Lamoureux is standing firmly behind another bullish call: Dow 40,000.

Oh, but there’s a catch.

“We see a large panic event taking shape now that continues into next year — the melt-up we forecasted is done,” he told MarketWatch.

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