After at least a month of flirting with 20,000, the Dow Jones Industrial Average finally broke through the level that everyone…OK, just some people…has been watching for the last several weeks. In honor of crossing the 20,000 threshold, the table below lists the date that the DJIA first crossed each thousand point threshold (on a closing basis) going back to 1,000 back in 1972. We also show how many days elapsed between the first time the index crossed each level, the number of times it crossed that threshold to the upside and downside, and what percentage each successive 1,000 points represents as a percentage of the index’s level.
Looking at the table, a couple of things stand out. First, the 64 days that elapsed between the first cross of 19,000 and 20,000 would represent the second shortest amount of time that transpired between two thousand point levels. The only one that was shorter was the 35 days that elapsed between 10,000 and 11,000. The 64-day sprint between 19,000 and 20,000 may sound impressive, but when you consider the fact that 1,000 points only represents 5% at 20,000 compared to 10% at 10,000, it loses a bit of its luster. Another aspect of the current rally worth citing is that after first crossing 19K back in November, the DJIA has yet to look back and trade below that level. The only other 1,000 point level that the DJIA crossed to the upside and never looked back from was 5,000 back in November 1995. While 5K and 19K are levels the DJIA has yet to ever revisit, DJIA 10,000 and 11,000 were levels that the index just couldn’t shake off. The DJIA first crossed 10K in 1999, but over the years following that first cross, it moved above and below that level 66 times. 11K was even harder to shake off. Since first crossing that threshold in May 1999, the index has moved above and below that level on a closing basis 86 other times.
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