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Number of Crosses..
Since the beginning of 1999, the Dow Jones Industrial Average has had six crosses from below 10,000 to above on daily close basis, I believe based on (I look around three times) a chart. And this appears to be slightly below random with respect to other numbers thereby infirming the common view seemingly relevant today, that the cross from below is of salience. -- Victor Niederhoffer
Mr. Downing adds: The number of times crossing DJIA 10,000 does seem to be somewhat low relative to its neighbors (see table below), but I would think it to be a function not only of gravitation toward the round number but also of the unconditional density of the closing prices of DJIA which seems to be multimodal with a peak near 10,500, but I wouldn't know how to disentangle these two effects.
|LEVEL||# TIMES CROSSED||LEVEL||# TIMES CROSSED|