My, The News on This Was Quiet When It Happened

This came in my e-mail from CNN just after the markets closed on Wednesday:

Historic day on Wall Street. Dow industrial, transportation and utility averages all hit record highs for 1st time since 1998.

I've been pretty busy, but I think I would have caught coverage of this news somewhere else had it occurred. If it did, it was quite muted.

Mark Hulbert, in a column time-stamped early Friday morning, details just how significant the news is:

The last time prior to Wednesday that this happened was March 17, 1998, nearly nine years ago. During the previous 70 years prior to 1998 in which all three Dow averages existed, it happened just 18 times.

If the most bullish thing that a bull market can do is go up, Wednesday was evidence of a very powerful bull market, indeed.

Thursday, the Dow went up again, while the transportation and utility averages pulled back a bit. The NASDAQ closed within a few points of 2500. The Greatest Story Never Told continues.

Cross-posted at BizzyBlog.com.

Tom Blumer
Tom Blumer
Tom Blumer is a contributing editor for NewsBusters.