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A HERETIC I AM

(24,371 posts)
3. Here ya go
Sun Jan 29, 2017, 10:28 AM
Jan 2017

Last edited Sun Jan 29, 2017, 10:59 AM - Edit history (2)

11/08/2016 close = 18,332.74

Friday's close (01/27/2017) 20,093.78

https://finance.yahoo.com/quote/%5EDJI?p=^DJI

It's gained 1761 points since November 8th, but if you click the link I gave above and click the "10 Y" link above the chart, you'll see that even though it did take off a bit after the election, it is still within the long term trend line it has been on since February of 2009 when it bottomed out, almost a month exactly after Obama was first sworn in.

On edit to say, and FWIW, the DJIA isn't really "meaningless" regarding the economy, even though this is a common meme on this thread and elsewhere on DU. The price of a given stock or index is reflective of the anticipated FUTURE profitability of the firm or index of firms and the prices of the shares that make up the 30 Dow stocks, and for that matter the S&P 500 as well, have been bid to their current levels as an indication traders have that confidence. The Price to Earnings ratio of the DJIA and the S&P are getting a bit high from a historical perspective, but it isn't totally out of whack.

None of the above is meant to suggest a correction isn't in the cards, not by a long shot. But calling a top is always difficult, just as calling a bottom is.

Latest Discussions»Issue Forums»Economy»STOCK MARKET WATCH -- Fri...»Reply #3