Daily Speculations

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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 CROSSEDLEVEL# TIMES CROSSED
850026960012
860016970012
870017980020
880013990024
8900171000022
9000161010020
9100221020023
9200181030027
9300181040030
9400101050038
950010