Too late to sell. Too early to buy. Does the market linger here or head down into the water? Darned if I know. The Talmud provides little insight into this question.
We do know that round numbers like 7500 are psychological barriers. When broken through, newspapers write about them. The Times:
...Losses among financial companies, computer makers and General Electric sent the Dow lower by 89.68 points, or 1.19 percent, to 7,465.95. The index dropped below its recent bear-market lows. It had not closed so low since it sank to 7,286.27 on Oct. 9, 2002.
Although it does not mean anything has changed economically when market indexes like the Dow Jones industrial average cross 7,500 or 10,000 or 14,000, analysts say these benchmarks contribute to investor psychology and sentiment — factors that can move markets...