The Dow Jones Industrial Average is chasing its next big benchmark—10,000—a signal to many investors that market has nearly recovered from last year's meltdown.
Though the Dow is now roughly 200 points short of the mark , few market pros are willing to predict just how soon the 10,000 level will be reached. And there's wide disagreement on where the market will head after that.
If anything, most pros are reluctant to give Dow 10,000 much significance. There's even concern that average investors will make too much of the benchmark once it's reached.
"For the overall market, it would be a big group hug if we were able to get to Dow 10,000," says Charles Rotbult, senior market analyst at Zacks Equity Research. "In terms of what does it mean to individual investors, it doesn't seem to be a big line in the sand that should change anybody's investment strategy."
Dow 10,000 was a nightmare two years ago, a dream six months ago and a reality a year ago. Along the way, the market has seen both its worst financial crisis and one of its greatest rebounds ever.
From the dust of that ferocious battle emerges hope that the market can regain a semblance of its former self.
Most analysts agree that the 10,000 number itself does not represent a significant level from a technical or fundamental standpoint.Page 1 of 5 | Next Page