By the end of the year, I expect the major averages will be within 10 percentage points of where they finished in 1999.

But it was not enough to pull the three major averages back into positive territory for the year.

Yesterday's major averages dropped between 5 and 10 percent.

But it returned at the end of the year, carrying the major averages to new post-2000 highs.

All the major averages are higher than they were in mid-1998.

The three major industrial averages closed higher for the day and for the week.

In terms of the major averages, that decline came after the market had reached its highest levels in a year.

And there is no reason that the major averages cannot keep rising.

"They will indicate that major averages would be in trouble."

The market's climb has caused some analysts to raise targets for the major averages this year.