![]() Looking back to an earlier era, Stovall notes that U.S. Click here for a membership offer from Steve Forbes. 8.0% for identically timed buys of the S&P 500 index from Jthrough February 14. Special Offer: Daily stock picks from Forbes Dividend Investor are up 12.6% vs. The bulls tested that ceiling three times (marked A, B and C), before the upside breakout was seen in late 1982. ![]() stocks and said "that is how long it took for the Dow to finish flirting with the 1000 level and meaningfully break above it."Ī monthly chart of the Dow Jones Industrial Average which begins in the 1970′s shows a clear ceiling (similar to the current 1550/1575 range in the S&P 500) around 1000. S&P Capital IQ's Stovall pointed to that lengthy consolidation in U.S. A major sideways secular trend was seen in the Dow Jones Industrial Average from 1966-1982, about 16 years long.
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