|
|
Wall Street History
https://www.gofundme.com/s3h2w8
|
10/20/2006
Clawing Back
With the Dow Jones at all-time high levels, I thought we’d take advantage of my extensive archives and research material and look at some key market figures, from the highs of early 2000 to today.
Due to the limitations of the ‘screens’ employed in physically posting this column, I’m unable to jazz this up, graphically, but you’ll get the picture.
For starters, here are the key market highs set back in 2000.
Dow Jones .11722 .1/14/00 Nasdaq ....5048 .3/10/00 S&P 500 .1527 .3/24/00
It was an incredibly volatile time, as you’ll recall, with a huge divergence in performance between the Dow and Nasdaq in particular.
For example, while Nasdaq was hitting 5048, that day the Dow Jones closed at 9928 after reaching its high of 11722 less than two months earlier. But by the time the S&P hit its high of 1527, the Dow had rallied back to 11112.
All the averages then fell (after a last ditch effort to rally the summer of 2000) to reach bear market lows in October 2002. Then, aside from a final hiccup in the spring of 2003, it was pretty much off to the races. So let’s look at each individual index’s behavior, including the time of 9/11. I’m also including the bull / bear investment readings for the key dates, which should be viewed as a contrarian tool.
Dow Jones
1/14/00 .11722 9/14/01 ..9605 9/10 #...market closed rest of week 9/21/01 ..8235 9/28/01 ..8847 10/4/02 ..7528 10/13/06 11960
Nasdaq
3/10/00 .5048 9/14/01 .1695 9/21/01 .1423 9/28/01 .1498 10/4/02 .1139 10/13/06...2357
S&P 500
3/24/00 .1527 9/14/01 .1092 9/21/01 ..965 9/28/01 .1040 10/4/02 ..800 10/9 hit low of 776 revisited 800 March ‘03 10/13/06 1365
Bull / Bear
1/14/00 .54.5 / 26.4 3/10/00 .53.4 / 27.6 3/24/00 .55.7 / 26.4 9/14/01 .39.6 / 36.5 10/4/02 .38.0 / 38.0 10/18/02...28.4 / 43.2 .there is a lag effect with the readings 10/13/06...52.2 / 30.4
And in case you were curious about some foreign barometers and how they performed over the same period.
[Using 3/24/00 as the starting point, the S&P 500 high, with all the following being weekly closing #s my best available data.]
Tokyo Nikkei
3/24/00 ..19958 9/14/01 ..10008 10/4/02 9027 hit 7699 on 4/25/03 10/13/06 16536
London FT-SE
3/24/00 ..6738 9/14/01 ..4755 10/4/02 ..3813 hit 3567 on 1/31/03 10/13/06....6157
Frankfurt DAX
3/24/00 ..7932 9/14/01 ..4136 10/4/02 ..2714 hit 2362 on 3/14/03 10/13/06....6173
Toronto Composite proxy for energy and precious metals
3/24/00 .10052 9/14/01 ..6890 10/4/02 ..5935 proved to be weekly low for cycle 10/13/06...11908
Lastly, a glance at oil.
3/24/00 .28.05 9/14/01 .29.76 10/4/02 .29.62 10/13/06...58.57 $78 mid-July
Sources:
Chartcraft / Investors Intelligence StocksandNews.com archives and files
Note: I’m off on a trip of the Southwest and Great Plains. Next edition, Nov. 3; a look at prices in America through my own experience.
Brian Trumbore
|
|
|