FYI: The Nasdaq Composite index is quickly closing in on a major milestone, the likes of which it hasn’t seen in over 15 years. At a level of 5,985 this afternoon, the index is just fifteen points from a first-time crossing of a 1,000 point threshold. The table below lists each prior thousand point level that the Nasdaq has crossed over time, along with how many times it crossed each level (on a closing basis) to both the upside and downside. After first crossing above 5,000 back in March 2000, the Nasdaq has gone more than seventeen years without crossing another 1,000 point milestone. What makes this drought even crazier is that the amount of time it took the Nasdaq to first cross 1K, 2K, 3K, 4K, and 5K (1,697 calendar days) was less than a third of the 6,255 days that have transpired since that first close above 5K. In other words, from July 1995 through March 2000, the Nasdaq quintupled in less than a third of the amount of time that it has since taken to advance 20%!
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/nasdaq-closes-in-on-a-milestone/
