Precious metals mixed.
Let’s get started with our Dow Theory commentary for today in this blog.
The SPY, Industrials and Transports closed, once again, up. It goes without saying that the primary and secondary trend remains bullish.
Volume was lower than yesterday’s. Since it was an up day in has a bearish connotation. For the second day in a row we have had diverging volume. In the very short term, the pattern of volume seems to be deteriorating. Here you have an updated chart.
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| Is volume turning short term bearish? |
Gold (GLD) closed down and silver (SLV) up. The primary and secondary trend remains bearish.
SIL and GDX (the silver and gold miners ETFs) closed down. The primary trend remains bullish, and the secondary trend remains bearish.
Here you have the figures of the markets I monitor for today:
| Data for January 23, 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 | 01/23/2013 | 149.4 | |
| Current stop level: Bear mkt low | 135.7 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| 2.27% | 10.07% | 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 | |
| Last close | 01/23/2013 | 21.69 | |
| Current stop level: Bear mkt low | 17.08 | ||
| Unrlzd gain % | 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 | |
| Last close | 01/23/2013 | 44.56 | |
| Current stop level: Bear mkt low | 39.56 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| -6.72% | 12.64% | 20.75% | |
Sincerely,
The Dow Theorist
