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
