Precious metals mixed
By the way, today “The Big Picture” blog contains an interesting piece of research supporting the value of technical analysis. You can find it here and it is worth your time. Page 20 of the report notes that technical approaches tend to outperform in bad years for the market, which is fully in agreement with the research that was posted in this post in this Dow Theory blog.
Back to our Dow Theory routine.
There aren’t many Dow Theory significant events today.
The SPY, Industrials and Transports closed up. The primary and secondary trend remains bullish.
Volume was higher than yesterday’s, which results in a bullish volume day.
Gold closed down and silver up. Both by just some cents. More meandering and nothing conclusive. The primary and secondary trend remains bearish.
GDX (the gold miners ETF) closed down, SIL (the silver miners ETF) closed up. Again, more indecision. The primary and secondary trend remains bearish.
Here you have the figures of the markets I monitor for today.
| Data for February 5, 2013 | |||
| DOW THEORY PRIMARY TREND MONITOR SPY | |||
| SPY | |||
| Bull market started | 11/15/2012 | 135,7 | |
| Bull market signaled | 01/02/2013 | 146,1 | |
| Last close | 02/05/2013 | 151,1 | |
| Current stop level: Bear mkt low | 135,7 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| 3,42% | 11,31% | 7,63% | |
| DOW THEORY PRIMARY TREND MONITOR GOLD (GLD) | |||
| GLD | |||
| Bull market started | 05/16/2012 | 149,5 | |
| Bull market signaled | 08/22/2012 | 160,5 | |
| Exit December 20 | 12/20/2012 | 161,2 | |
| 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 | |
| Exit January 23 | 01/24/2013 | 21,69 | |
| Current stop level: Sec React low | 11/15/2012 | 21,87 | |
| Realized Loss % | Tot advance since start bull mkt | Max Pot Loss % | |
| -0,64% | 26,99% | 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 | |
| Exit January 23 | 01/24/2013 | 44,56 | |
| Current stop level: Sec React low | 12/05/2012 | 45,35 | |
| Realized Loss % | Tot advance since start bull mkt | Max Pot Loss % | |
| -6,72% | 12,64% | 20,75% | |
Sincerely,
The Dow Theorist.
