Precious metals universe lethargic
Let’s get started with our Dow Theory commentary for today.
Stocks
The SPY, Industrials and Transports closed up. The primary trend is bullish, and the secondary trend is bearish for the reasons explained here.
Today’s volume was lower than yesterday, which has a bearish connotation as higher prices were not supported by heavier volume. The overall pattern of volume is bearish, and is currently aligned with the secondary trend of the market. Here you have an updated chart:
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| Volume is bearish. |
Gold and Silver
I didn’t talk about GLD’s inventory losses for some days. Well, the bleeding continues.
GLD and SLV closed down. The primary and secondary trend is bearish.
GDX and SIL, the gold and silver miners ETFs, closed down. The primary and secondary trend is bearish.
Here you have the figures of the markets I monitor for today:
| Data for June 7, 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 | 06/07/2013 | 164.8 | |
| Current stop level: Bear mkt low | 135.7 | ||
| Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
| 12.83% | 21.44% | 7.63% | |
| Alternative Schannep’s stoploss: | |||
| Highest closing high | 05/21/2013 | 167.17 | |
| 16% stoploss from highest closing high | 140.423 | ||
| Max Pot Loss % | |||
| -3.86% | |||
| 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 | |
| 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
