Precious metals up
Let’s get started with our Dow Theory commentary for today in this blog.
The SPY, Industrials and Transports closed up. The primary trend remains bearish and the secondary trend bullish.
It is noteworthy to highlight that a set up for a primary bull market signal was completed last Friday, December 28.
Thus, both the SPY and Industrials experienced on Dec 28 a pullback exceeding 3% from their 12/18/2012 highs (Industrials: 13350.96; SPY: 145.37). Such a pullback (even if unconfirmed) sets stocks up for a primary bull market signal if the 12/18/2012 highs are bettered.
In the meantime, we just have to wait.
Today’s volume was larger than Fridays, which has a bullish implication. The overall pattern of volume remains bearish.
Gold and silver closed up. The primary and secondary trend remains bearish.
GDX and SIL closed up. The primary trend remains bullish and the secondary trend bearish.
Here you have the figures of the markets I monitor for today.
| Data for December 31, 2012 | |||
| DOW THEORY PRIMARY TREND MONITOR SPY | |||
| SPY | |||
| Bear market started | 09/14/2012 | 147,24 | |
| Bear market signaled | 11/16/2012 | 136,37 | |
| Last close | 12/31/2012 | 142,41 | |
| Current stop level: Bull market high | 147,24 | ||
| Price chg since bear mkt signaled | Tot decline since start bear mkt | Max Pot Loss % | |
| 4,43% | -3,28% | -7,38% | |
| DOW THEORY PRIMARY TREND MONITOR GOLD (GLD) | |||
| GLD | |||
| Bull market started | 05/16/2012 | 149,46 | |
| Bull market signaled | 08/22/2012 | 160,54 | |
| Exit December 20 | 12/20/2012 | 161,16 | |
| Current stop level: Sec React low | 11/02/2012 | 162,6 | |
| Realized Loss % | Tot advance since start bull mkt | ||
| 0,39% | 7,83% | ||
| DOW THEORY PRIMARY TREND MONITOR SILVER (SLV) | |||
| SLV | |||
| Bull market started | 06/28/2012 | 25,63 | |
| Bull market signaled | 08/22/2012 | 28,92 | |
| Exit December 20 | 12/20/2012 | 29 | |
| Current stop level: Sec React low | 11/02/2012 | 29,95 | |
| Realized gain % | Tot advance since start bull mkt | ||
| 0,28% | 13,15% | ||
| DOW THEORY PRIMARY TREND MONITOR ETF SIL | |||
| SIL | |||
| Bull market started | 07/24/2012 | 17,08 | |
| Bull market signaled | 09/04/2012 | 21,83 | |
| Last close | 12/31/2012 | 22,64 | |
| Current stop level: Bear mkt low | 17,08 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| 3,71% | 32,55% | 27,81% | |
| DOW THEORY PRIMARY TREND MONITOR ETF GDX | |||
| GDX | |||
| Bull market started | 05/16/2012 | 39,56 | |
| Bull market signaled | 09/04/2012 | 47,77 | |
| Last close | 12/31/2012 | 46,39 | |
| Current stop level: Bear mkt low | 39,56 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| -2,89% | 17,26% | 20,75% | |
Sincerely,
The Dow Theory
