Every time the Dow surpassed a milestone….there was a big cheer. And always premature.
Dow broke 1,000 the 14 November 1972 and 3 months later went into the bear market and only in 1976 re gained it and definitely cleared it in 1982.
Dow broke 10,000 in 1999 and, after an initial leap, broke it again in 2001 and from 2003 seemed to be safe until the Global Financial Crisis of 2008 and cleared it by 2011.
So history is NOT always right, but on average it took 10 years to clear a milestone
investorpolitico 