Chart o’ the Day: Dow Jones Makes an All-Time High

This morning, with little fanfare, the Dow Jones Industrial Average made a new all-time high. Perhaps the coast is now clear to reinvest that 401(k) you took to cash in January (jk).

Anyway, here’s the index price chart, with two overlays: The percentage of S&P 500 stocks above their 200-day moving averages (a healthy 70%, thank you very much) along with the cumulative advance/decline line for the NYSE Composite names, also making a year high.

dow

Anyone who tells you it’s been easy to stay the course this year is lying.┬áThere’ve been myriad reasons to panic. There will be plenty of reasons in the future too. But today…today we smile.

 

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