Now that the Dow has touched five figures again, investors can start focusing on the next benchmark for the market's recovery.
The Dow finally breached 10,000 Wednesday—a number it hasn't seen in more than a year—after flirting with the level for the past month.
Traders initially cheered the move, but were cautious over whether it would mean a continued move higher.
"I'd be surprised if we went through it and stayed above it," says Dave Rovelli, managing director of US equity trading for Canaccord Adams.
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.
"For the overall market, it would be a big group hug (to see) Dow 10,000," says Charles Rotblut, 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.Page 1 of 4 | Next Page