November 20, 2013:  This chart shows the DOW, Dow Jones Industrial Average, adjusted for inflation is trading just 0.2% below its all-time record high.  This is the third attempt to cross and close above 16,000.  Will the third time be the charm?  Just to be safe, I took a few profits last week and some more today.

Of course, what Chartoftheday neglects to mention is the DOW pays a dividend.  If you bought the DOW via its ETF (exchange traded fund) called DIA and reinvested the dividends it earned, currently at 2.31%, then you would be well above the past all-time, inflation adjusted highs.

From Chartoftheday.com¹

As the stock market continues to trade in all-time record territory, today's chart provides some perspective by illustrating the inflation-adjusted Dow since 1900 -- there are several points of interest. For one, while most major US stock market indices trade well within record territory, when adjusted for inflation, the story changes. For example, the inflation-adjusted Dow still trades below both its 1999 peak -- albeit not by much (only 0.2% below its 1999 all-time, inflation-adjusted record high). Another point of interest is how the inflation-adjusted Dow was unable to punch through the 16,000 level on its previous two attempts (see red dashed line) -- the market is currently making its third attempt.