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Do I hear 20,000 for the Dow Jones Industrial Average?
The Dow closed above 19,000 on 22nd Nov. 2016 and took 483 trading days to span the 1,000-point bridge. The blue-chip gauge as of Friday, 9th Dec. 2016 is now just about 244 points away from hitting...
source: www.marketwatch.com
...the psychologically significant level of 20,000. Assuming that the indexes continue to lurch forward into the next week or two, that puts the gauge on pace to log the fastest 1,000-point rally since the Dow moved from 10,000 to 11,000 in from 29th March 29 1999, to 3rd May 1999 — a 24-day trading day span, according to Dow Jones data.
Leaving out th other long records from the years 1972, 1987, or 2006 when it took the index 1,879 or 3,573 days and up to even 21,652 days to reach the next 1,000 level in the Dow Jones, the history above tells us we would have to wait a "Maximum of another" 1,080 trading-sessions/days until we hit the 20,000 - level >>
>> This strange calculation would mean that we would be heading for a pretty bumpy ride until March 2021 !! ;-) I don't know if I want to wait that long - but well, let's wait and see.
