{"id":14744,"date":"2017-01-30T00:21:33","date_gmt":"2017-01-30T05:21:33","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=14744"},"modified":"2017-01-30T00:21:33","modified_gmt":"2017-01-30T05:21:33","slug":"dow-breaks-20000","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/01\/30\/dow-breaks-20000\/","title":{"rendered":"Dow breaks 20,000"},"content":{"rendered":"<p>The Dow Jones Industrial Average broke the important psychological barrier of 20,000 this week. The news was greeted with cheers from the media, many advisers and investors.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Dow Jones Industrial Average\" alt=\"Dow Jones Industrial Average\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-01-28-dow.png?w=525&#038;ssl=1\" \/><\/p>\n<p>Older readers may recall a similar event when the Dow broke 1000 on November 14, 1972. Here is an excerpt from the New York Times that day:<\/p>\n<blockquote><p>The Dow Jones industrial average closed above the 1,000 mark yesterday for the first time in history.<\/p>\n<p>It finished at 1,003.16 for a gain of 6.09 points in what many Wall Streeters consider the equivalent of the initial breaking of the four-minute mile.<\/p>\n<p>&#8220;This thing has an obvious psychological effect,&#8221; declared one brokerage-house partner. &#8220;It&#8217;s a hell of a news item. As for the permanence of it &#8212; well, I just don&#8217;t know.&#8221;<\/p>\n<p>Last Friday, the Dow surpassed 1,000 during the course of a day&#8217;s trading, but it fell back below the landmark figure by the end of the session.<\/p>\n<p>But yesterday the market was not to be denied. The Dow finally put it all together, the peace rally, the re-election of President Nixon, the surging economy, booming corporate profits and lessening fears about inflation and taxes and controls and other uncertainties of 1973.<\/p>\n<p>&#8230;..International Business Machines, Wall Street&#8217;s best known glamour issue, moved up 11 1\/4 points to 388, its best price of the day.<\/p>\n<p>&#8230;..An office broker, watching the stock tape from his desk downtown, murmured in wonderment: &#8220;There&#8217;s a sort of renewed confidence in the whole economic outlook.&#8221;<\/p><\/blockquote>\n<p>The broker who questioned the permanence of the move must have had a crystal ball. Three months later, the Dow reversed below 1000, commencing a bear market that ended at 570.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Dow Jones Industrial Average\" alt=\"Dow Jones Industrial Average\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-01-28-dow1k.png?w=525&#038;ssl=1\" \/><\/p>\n<p>Four years later, in 1976, the Dow again rallied and broke 1000. Only to retreat in another bear market that carried as low as 750. A third advance carried the Average above 1000 in 1981, before another retreat, this time to 780.<\/p>\n<p>Only in 1982, a full ten years after the first breakout, did the Dow finally break clear of 1000, advancing strongly over the next few years.<\/p>\n<p>The next significant barrier for the Dow was 10,000. Breakout took place in 1999, during the Dotcom boom, with a minimum of fuss. <a href=\"https:\/\/bookpage.com\/reviews\/784-charles-w-kadlec-dow-100-000-fact-fiction#.WIwRbH3wBX8\">At least one pundit<\/a> at the time predicted the Dow would reach 100,000 by 2020.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Dow Jones Industrial Average\" alt=\"Dow Jones Industrial Average\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-01-28-dow10k.png?w=525&#038;ssl=1\" \/><\/p>\n<p>Contrary to initial indications, the 10,000 level also proved a formidable barrier, with breach of support in 2001 heralding the start of a bear market that fell as low as 7200.<\/p>\n<p>Recovery in 2003 appeared robust, with two secondary corrections respecting the new support level at 10,000. But the global financial crisis in 2008 saw the Dow fall to 6500. It took more than ten years after the initial breakout before we could comfortably say that the Dow had broken clear of 10,000.<\/p>\n<p>The next important barrier is the current 20,000. It may be naive to think we have seen the last of it.<\/p>\n<p>If past records are anything to go by, we could be in for an interesting decade.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Dow Jones Industrial Average broke the important psychological barrier of 20,000 this week. The news was greeted with cheers from the media, many advisers and investors. Older readers may recall a similar event when the Dow broke 1000 on November 14, 1972. Here is an excerpt from the New York Times that day: The &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/01\/30\/dow-breaks-20000\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Dow breaks 20,000&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57,34],"tags":[73,74,1113],"class_list":["post-14744","post","type-post","status-publish","format-standard","hentry","category-stock-markets","category-us-canada-countries-regions","tag-73","tag-74","tag-dow-jones-industrial-average"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dow breaks 20,000 - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dow breaks 20,000 - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The Dow Jones Industrial Average broke the important psychological barrier of 20,000 this week. The news was greeted with cheers from the media, many advisers and investors. Older readers may recall a similar event when the Dow broke 1000 on November 14, 1972. 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Bearish divergence on Twiggs Money Flow indicates long-term selling pressure. Recovery above 18500 is now unlikely but would signal another primary advance.","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19888,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/03\/07\/global-stocks-at-a-watershed\/","url_meta":{"origin":14744,"position":1},"title":"Global stocks at a watershed","author":"Colin Twiggs","date":"March 7, 2020","format":false,"excerpt":"Reviewing long-term monthly charts from global exchanges, many indexes are testing primary support. South Korea's Seoul Composite is already in a bear market but holding up reasonably well despite a fast-rising number (6,767 ) of confirmed COVID-19 cases. Breach of support at 2000, however, would warn of another primary decline,\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1605,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/27\/dow-breaks-12000\/","url_meta":{"origin":14744,"position":2},"title":"Dow breaks 12000","author":"ColinTwiggs","date":"October 27, 2011","format":false,"excerpt":"Dow Jones Industrial Average broke through resistance at 12000. On the monthly chart we can see the index is headed for a test of its 2011 high at 13000. Breakout would signal an advance to 15000*. Bearish divergence on 63-Day Twiggs Momentum, however, continues to warn of a primary down-trend;\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10734,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/08\/26\/dow-signals-fresh-advance-2\/","url_meta":{"origin":14744,"position":3},"title":"Dow signals fresh advance","author":"ColinTwiggs","date":"August 26, 2014","format":false,"excerpt":"Dow Jones Industrial Average recovered above 17000, signaling a fresh advance. Follow-through above 17150 would confirm a target of 17500*. Leveling off of 21-day Twiggs Money Flow in recent days, however, indicates (short-term) resistance. Reversal below 16950 is unlikely, but would warn of a test of 16750. * Target calculation:\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"Dow Jones Industrial Average","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-26-dow.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-26-dow.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-08-26-dow.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":775,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/09\/12\/dow-rallies-on-light-volume\/","url_meta":{"origin":14744,"position":4},"title":"Dow rallies on light volume","author":"ColinTwiggs","date":"September 12, 2011","format":false,"excerpt":"Dow Jones Industrial Average rallied on unconfirmed news reports that China is set to buy sovereign debt from troubled Italy. Light volume indicates an absence of selling pressure. This is a bear market, however, and rallies are likely to be of short duration, while breach of support would lead to\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32674,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/05\/10\/its-a-bear-market-2\/","url_meta":{"origin":14744,"position":5},"title":"It&#8217;s a bear market","author":"Colin Twiggs","date":"May 10, 2022","format":false,"excerpt":"The S&P 500 broke primary support at 4170 to confirm a bear market. A Trend Index peak at zero warns of strong selling pressure. The Nasdaq 100 similarly broke support at 13K, confirming the bear market. Dow Jones Industrial Average, already in a primary down-trend, confirmed the bear market with\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-05-09-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-05-09-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-05-09-spx.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-05-09-spx.png?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=14744"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/14744\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=14744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=14744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=14744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}