As pretty much everybody expected, the North American trading session’s direction was completely reliant upon the testimony of Federal Reserve Chairwoman Janet Yellen at the Senate Banking Committee this morning.
We asked traders, "The Dow Jones surpassed both the 17,000 mark and 18,000 mark for the first time in its history in 2014. What is more likely in 2015, the Dow hitting 20K or a major correction of 10-20%?"
It’s very deceptive of the market to have stalled 6 points short of the goal line, kind of like what Pete Carroll did in the Super Bowl. But unlike the Seahawks, the SPX gets another chance at pay dirt.
Earlier this year the Dow Jones Industrial Average breached 17,000 for the first time in its long history. We decided to take a look at previous major benchmarks in the growth of the Dow over the years and highlighted what was going on in the markets—and the world.