Investing.com - The major market indexes were down today, and the 20,000.00 Dow remains an investment dream for now.
The DJIA closed down at 1918.88. The Nasdaq also closed down at 5447.42, and the S&P 500 ended Thursday at 2260.96.
As of 2 p.m. Eastern today, the Dow Jones Industrial Average was at 19990.33, a decline of 0.19% from its close yesterday.
The Nasdaq was also in the doldrums at 5442.20, a drop of 0.53% from yesterday.
The S&P 500 sank too during intraday trading and was at 2258.53, a decline of 0.29%.
The positive sentiment of the last month plus since the U.S. presidential election has been tempered somewhat, as investors are beginning to wonder whether some stocks are overpriced.
Many equities are not only at all-time highs, but are also at the highest GAAP P/E valuation in years, raising a red flag for some. This is particularly true for technology shares, analysts said.
Another red flag for some traders -- volatility has been low. That could change dramatically on market moving news when the new president in the U.S. takes office on Jan. 20.
The coveted 20,000.00 close for the DJIA is another kind of red flag for investors. Some think the psychological barrier of overcoming that level on the index may be holding back gains in the short-term.
There is also concern in the market now about what kind of strategy the Securities and Exchange Commission (SEC) will adopt when President Trump, after Jan. 20, appoints new members, on advise from fellow billionaire, Carl Icahn, who has been appointed a new White House advisor on regulatory reform.