caseyresearch.com / January 13, 2017
Investors can’t take their eyes off the Dow.
The Dow Jones Industrial Average has jumped more than 7% since Election Day. Last month, it set a new all-time high.
But that hasn’t been enough for many folks. They’re waiting for the Dow to top 20,000.
From a technical perspective, “Dow 20,000” wouldn’t mean much. Right now, it sits at 19,876—within 1% of the mark.
Still, Dow 20,000 could have a huge psychological impact. After all, it’s a big, round number. Most people would be excited to see the Dow reach this milestone. If it does happen, many investors who are sitting on the sidelines could jump back into stocks.
But that doesn’t mean you should obsess over Dow 20,000.
• Bill Gross says there’s a much more important number you should be watching…
Gross is one of the world’s most respected investors. He founded PIMCO, one of the world’s biggest money managers. Today, he manages a giant bond fund at Janus Capital Group.