It’s not that I don’t care that the S&P and the total stock market are likely to hit all-time highs soon, if not today. Should the S&P and the Wilshire close at new all-time highs today, it will mean that we’ve been in a bull market since March 23. And as a final note: What four familiar stock market words haven’t you seen in this column? The answer is, “Dow Jones industrial average.”That, of course, is because the Dow isn’t close to breaking the all-time high that it reached on Feb. 12. As of Friday’s market close, the 30-stock Dow — usually the main focus of daily stock market stories, its narrowness and oddities notwithstanding — was more than 5 percent below its all-time high.

Source: Washington Post August 17, 2020 16:09 UTC