Man. We blew through 25,000. Now 26,000 in a couple of weeks. This doesn’t usually go on folks, and as the Wall Street Journal says this is the fastest 1000 point jump in 120 years. (Of course 1000 points used to mean something.)
You’ve got to believe a correction is coming reasonably soon.
(From The Wall Street Journal)
The Dow Jones Industrial Average crossed 26000 for the first time Tuesday, just seven trading sessions after closing above its last 1,000-point milestone.
The blue-chip index gained 273 points, or 1.1%, to 26076 shortly after the opening bell. If the Dow industrials close above 26000, the jump from 25000 would be the fastest 1,000-point leap in its 120-year history.
Tuesday’s historic rise builds on the Dow’s 25% gain last year and its seemingly unstoppable climb to start 2018. The rally began in late 2016 as a bet on infrastructure spending, deregulation and tax cuts, but spent 2017 rising on the back of strong corporate earnings growth.