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Monday, April 24, 2017 5:10:11 PM
Nasdaq Closes in on a Milestone
By Bespoke | April 24, 2017
The Nasdaq Composite index is quickly closing in on a major milestone, the likes of which it hasn’t seen in over 15 years. At a level of 5,985 this afternoon, the index is just fifteen points from a first-time crossing of a 1,000 point threshold. The table below lists each prior thousand point level that the Nasdaq has crossed over time, along with how many times it crossed each level (on a closing basis) to both the upside and downside. After first crossing above 5,000 back in March 2000, the Nasdaq has gone more than seventeen years without crossing another 1,000 point milestone. What makes this drought even crazier is that the amount of time it took the Nasdaq to first cross 1K, 2K, 3K, 4K, and 5K (1,697 calendar days) was less than a third of the 6,255 days that have transpired since that first close above 5K. In other words, from July 1995 through March 2000, the Nasdaq quintupled in less than a third of the amount of time that it has since taken to advance 20%!
The chart below shows each of the dates that the Nasdaq first crossed every 1,000 point level from 1,000 through 5,000. As shown, some of these milestones came and went quickly. Back in late 1999, the Nasdaq rallied 33% from 3,000 to 4,000 in the span of less than two months. Then, as an encore, it spiked another 25% in just over two months. What’s even more amazing about these huge moves in such short periods of time is that, at the time, people actually thought it was perfectly normal!
https://www.bespokepremium.com/think-big-blog/nasdaq-closes-in-on-a-milestone/
• DiscoverGold
By Bespoke | April 24, 2017
The Nasdaq Composite index is quickly closing in on a major milestone, the likes of which it hasn’t seen in over 15 years. At a level of 5,985 this afternoon, the index is just fifteen points from a first-time crossing of a 1,000 point threshold. The table below lists each prior thousand point level that the Nasdaq has crossed over time, along with how many times it crossed each level (on a closing basis) to both the upside and downside. After first crossing above 5,000 back in March 2000, the Nasdaq has gone more than seventeen years without crossing another 1,000 point milestone. What makes this drought even crazier is that the amount of time it took the Nasdaq to first cross 1K, 2K, 3K, 4K, and 5K (1,697 calendar days) was less than a third of the 6,255 days that have transpired since that first close above 5K. In other words, from July 1995 through March 2000, the Nasdaq quintupled in less than a third of the amount of time that it has since taken to advance 20%!
The chart below shows each of the dates that the Nasdaq first crossed every 1,000 point level from 1,000 through 5,000. As shown, some of these milestones came and went quickly. Back in late 1999, the Nasdaq rallied 33% from 3,000 to 4,000 in the span of less than two months. Then, as an encore, it spiked another 25% in just over two months. What’s even more amazing about these huge moves in such short periods of time is that, at the time, people actually thought it was perfectly normal!
https://www.bespokepremium.com/think-big-blog/nasdaq-closes-in-on-a-milestone/
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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