July 25, 2017

Dow Theory Update for July 25: Primary and secondary trends unchanged

Manuel Blay


The primary trend is bullish since November 21st, 2016, as explained here and here.
The primary trend was reconfirmed on July 3rd, 2017 as was explained here

No secondary reaction in sight.
GOLD AND SILVER

The primary trend was declared bearish on July 7th, 2017, as explained here and here

The current rally doesn’t qualify as a secondary reaction yet.
GOLD AND SILVER MINERS EFTs
The primary trend is bearish, as was explained here and here.
The secondary trend is bullish as explained here
As was explained here, SIL and GDX have set up for a primary bull market signal.
Days pass by and nothing happens. Well, this is normal. Patience.
Sincerely,
The Dow Theorist

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