January 14 2000: that was the day the Dow Jones Industrial Average hit 11,722.98, an all time high. Then markets crashed. By May this year, the index was creeping up, with many talking about it passing a new high. But, once again the ‘crash’ word came out again, as markets fell.
The adage says: “Sell in May and go away”, and that appears to be what has happened. As the holiday season ends, markets are creeping up. Last night the Dow closed at 11669.5, just over a 50 points short of the record.
Meanwhile, the FTSE 100 rose 75 points yesterday to close at 5873, but it’s still 200 points or so down on the 6091 level it reached in May, which itself was well short of the record set on December 30 1999 of 6990.
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