24 'Seventy weeks are determined
For your people and for your holy city,
To finish the transgression,
To make an end of sins,
To make reconciliation for iniquity,
To bring in everlasting righteousness,
To seal up vision and prophecy,
And to anoint the Most Holy.
25 'Know therefore and understand,
That from the going forth of the command
To restore and build Jerusalem
Until Messiah the Prince,
There shall be seven weeks and sixty-two weeks;
The street shall be built again, and the wall,
Even in troublesome times.
26 'And after the sixty-two weeks
Messiah shall be cut off, but not for Himself;
And the people of the prince who is to come
Shall destroy the city and the sanctuary.
The end of it shall be with a flood,
And till the end of the war desolations are determined.
27 Then he shall confirm a covenant with many for one week;
But in the middle of the week
He shall bring an end to sacrifice and offering.
And on the wing of abominations shall be one who makes desolate,
Even until the consummation, which is determined,
Is poured out on the desolate."
Daniel 9:24 - 27

Interpretation of these verses is explained in the chart below. It is well recognised that a "week" was equivalent to seven years, each of 360 days.

1. The year 445 BC was year this prophecy was received, Jerusalem was in ruins. The prophecy announced the time interval in when Jerusalem was to be rebuilt and the coming of Messiah. Many take the start date as 445 BC, although some have advocated other dates, eg 454 BC, based on the understanding of which year was the "20th year of Artexerxes" when the decree to build Jerusalem was issued (Nehemiah 2:1-11).
2. From 445 BC to the Death and Resurrection of Christ is 69 weeks of years. Jesus rode into Jerusalem on the date that was 69x7 years after the decree to build Jerusalem was issued.
3. The time of the Gentiles or the Church Age creates a gap in the 70 years. It is a parenthesis and will continue until the "times of the Gentiles be fulfilled" (Luke 21:24). This occurs when: "the full number of the Gentiles has come in" (NIV Romans 11:25).
4. Rapture: Is when those that are saved are removed from the earth ("The Lord Himself shall descend from Heaven...[we] will be caught up together with them in the clouds to meet the Lord in the air" 1 Thessalonians 4:17). This occurs before the judgement and Second Coming. See also "The rapture compared with the appearing of Christ ".
5. The Seventieth week of Daniel is explained in Revelation and Ezekiel, amongst other books of the Bible, and is a period of seven years, split into two periods.
6. The Millennial Kingdom is for 1000 years after which there will be a new heaven and new earth (Revelation 21). Prior to this all those that are deceived by Satan are cast into hell (Revelation 20).

Notes

Note that there are many heresies concerning the End Times - most created to serve the pride and arrogance of various people, especially those that hate the Jews. Harmonisation of the bible with the thoughts of pagan scholars did much to harm the understanding of the End Times. The naming of the different theologies is based on the placement of the millennial reign outlined in Chapter 20 of Revelation. Hence we see:

Amillennialism

Much of the Bible is allegorised, hence the literal reign of Christ is done way with. The millennium is thought to extend from the resurrection of Jesus Christ until His Second Coming on the clouds at the end of this age, proving this view is both unsound and not true. The view assumes that Israel is done away with and is replaced by the Church, again hardly true. It is assumed the holders of these views do not have chapters 9, 10 or 11 of Roman's in their Bibles!

Postmillennialism

There are various variants of this theory. It means literally, "after the millennium" and holds the view that Christ will come only after the Church has established God's kingdom on the earth by progressively subduing the world. History shows the reverse has and is occurring, proving the fallacy of the view. Holders of this view also blame the Jews for the death of Christ, hence punish the Jews. Hitler, a non-excommunicated Catholic, partially fulfilled this precept.

Who is to be blamed for the death of Christ? - I am!

Premillennialism

This view takes the literal reading of the Bible and applies the order presented to current history. Christ will rule from Jerusalem and Israel (a remnant) will be saved who will evangelise the world. There will be a 1000 year rule at the end of the 7 years of tribulation. The formation of the nation of Israel is thought to be part of the fulfilment of this prophecy. It is expected that a Temple will be build soon and temple worship commenced as the Bible states it will. Jerusalem features strongly in these prophecies, including the fact that in most weeks news broadcasts will have Jerusalem as a focus!