While all the attention shifted towards bitcoin and the pace with which it traded up through different 1,000 point price levels, the DJIA just reminded investors that it too has been on quite a run. With the index on pace to close above 24,000 for the first time today, that now makes it six 1,000 point thresholds that the DJIA has crossed for the first time since last November’s Election.
The table below lists the first day that the DJIA closed above each 1,000 point threshold beginning with 1,000 way back in 1972. Obviously, the higher the index goes, the less of a percentage move each successive threshold becomes, but the recent pace has still been quick. Even more impressive is the fact that for each of the recent thresholds the DJIA has crossed, it hasn’t dipped back below very often. In fact, since last November’s election, no single 1,000 point threshold has been crossed (on a closing basis) up or down more than five times.
