Why Does Everyone Care About 20,000?
The answer is incredibly simple. Markets and media love big psychological levels. In this case, Dow 20,000 is a massive round number with a great sound to it. Try testing this out loud. Yell, “Dow 20,000” and then “Dow 20,038.21.”
If you’ve read the news at any point this month, you’ve probably noticed how fixated mainstream media is on this number. But the more important thing right now is to pay attention to the facts and smartest people in the room. We direct your attention to this chart and blog post from December 21 (the Dow is down 154 points since it was shared).
A Little Dow History
What happened when the Dow hit 5,000? Or 10,000? Or 17,000? Here’s a chart and link showing all of these moments on one chart.
We’re launching an award show for the stock market. It will take place in New York City. What was the best chart of 2016? Who was the worst CEO of 2016? We’re setting this up right now and you can learn more here.
If It Does Not Happen
We’ll just leave this right here…