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Dow 10K Crossovers, More Common Than You Think

Yesterday, the Dow closed over 10,000 for the first time in over a year and now, the futures are pointing to a pull back below the 10K marker this morning. While it is a psychological threshold, especially after the fall from the 2007 highs, the index has crossed the marker a number of times before in its past.

In fact, the Dow has crossed above 10,000 twenty-six times in the past ten years. Each time it has pulled back within days of the cross before coming back in the months ahead. If history is an indicator, you can expect some profit taking.

Dow 10,000 Crossover History

Today, the financials are weighing down the Dow in the premarket despite better than expected earnings from Goldman Sachs and Citigroup . Dow components American Express , Bank of America , JP Morgan Chase and Travelers are down in the premarket.

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