Gold, silver and their miners up.
Today is a relevant day for stocks under Dow Theory.
The SPY, the Industrials and the Transports have bettered their Jan 4 highs (which at the same time bettered the Jan 2 highs). Under Dow Theory confirmed higher highs is always a bullish sign. Hence, the primary and the secondary trend of stocks is bullish. Here you have an updated chart:
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| The primary trend is bullish as per the Dow Theory. Higher highs made today |
Volume was higher today than yesterday’s. Given that stocks closed up today, it is a bullish sign. For the reasons I gave yesterday in this Dow Theory blog, the overall assessment of the volume patterns is bullish.
Gold and silver closed up. The primary trend and the secondary trend remains bearish.
SIL and GDX closed up. The primary trend is bullish, and the secondary trend remains bearish.
Here you have the figures of the markets I monitor for today:
| Data for January 10, 2013 | |||
| DOW THEORY PRIMARY TREND MONITOR SPY | |||
| SPY | |||
| Bull market started | 11/15/2012 | 135.7 | |
| Bull market signaled | 01/02/2013 | 146.06 | |
| Last close | 01/10/2013 | 147.08 | |
| Current stop level: Bear mkt low | 135.7 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| 0.70% | 8.39% | 7.63% | |
| 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 | 01/10/2013 | 22.42 | |
| Current stop level: Bear mkt low | 17.08 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| 2.70% | 31.26% | 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 | 01/10/2013 | 45.41 | |
| Current stop level: Bear mkt low | 39.56 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| -4.94% | 14.79% | 20.75% | |
Sincerely,
The Dow Theorist
