The press release from S&P Dow Jones Indices made me feel as if I were being briefed on a matter of great historical significance: Good morning. The Dow Jones Industrial Average is within striking distance of 20,000. And if you think that reaching the 20,000 mark means that stocks will continue to march nonstop to even greater heights, well, consider what happened the last time the Dow hit a major milestone Dow 10,000. Confidence about stocks future prospects could hardly have been higher when the Dow crossed the 10,000 thresholds on March 29, 1999.
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