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8/18/04:
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
8500	26		9600	12
8600	16		9700	12
8700	17		9800	20
8800	13		9900	24
8900	17		10000	22
9000	16		10100	20
9100	22		10200	23
9200	18		10300	27
9300	18		10400	30
9400	10		10500	38
9500	10