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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 53.91

+8.6%

Jan 9 4:00 PM EST

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To: da_cheif™ who wrote (79592)	2/3/2013 11:29:15 AM
From: Kirk ©	Read Replies (1) of 207748

From Message 28703715 10K, 11K, 12K, 13K and 14K: In case you doubt psychological barriers play a role in market prices, take a look at the table below. What I did was go back to 1999 (when the Dow first crossed 10,000) and looked at how the index did after touching one of these even levels (10K, 11K, 12K, 13K or 14K). I only counted it if the Dow had been below the level for at least a month before crossing above the level. As it turns out, the Dow really struggles at these levels -- look at the one-year returns. The typical one-year return for the Dow since 1999 is 3.04%. But when it just crosses one of these even levels, it averages a loss of 4.05%, showing a positive return just 36% of the time. Pointing this out is probably bullish

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