Dow 10K: Not Again
Wednesday, July 21, 2010 at 03:03PM With today's 1.5% decline as of 3 PM, the Dow looks unmercifully to be making another move towards 10,000. When the index first crossed above 10,000 in 1999, who would have thought that we would still be vacillating around this level more than a decade later. While it seems like we have been crossing above and below 10,000 forever, 11,000 has actually been the most frequently crossed 1,000 point level. As shown below, the Dow has crossed above 11K 36 times. 10K isn't far behind though. Traders have had to bust out their 10K hats 33 times now. The next cross will make it 34. Rounding out the top three, 1,000 is the only other 1,000 point threshold that has been crossed 30 or more times.
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Reader Comments (3)
Shouldn't this graph have a time component? ie since 1970 or 1990 market has crossed _____N times ?
Market crosses in the 1930s may be interesting but not relevant today.....
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