At 7000, it had nowhere to go but up.
And yet it grew SLOWLY over that time.
Add to that having virtually free money at a fed rate of 0.0%
And $7.2 Trillion in 3 rounds of Quantitative Easing.
If any of the current crop of communists on the Dem side gets elected, we will look upon 7,000 with fond remembrance— when it craters to 4,000. “If only I had bailed out at 7,000.”
No doubt it had a lot of room to rebound but look at post 17 - the pace was pretty good.