September 23, 2016

Dow Theory Update for September 23: Primary and secondary trends unchanged for US stocks, gold/silver, and their ETF miners

Manuel Blay



Post concerning Stress-test under weak cyclical bull markets coming very soon

I am writing before the close. So, while very unlikely, things might change after the close

US STOCKS
The primary trend is bullish as explained hereand here
The secondary trend is bearish (secondary reaction against the primary bull market) as explained here
According to the “Rhea/Classical” Dow Theory no secondary reaction has been signaled yet, as explained here.
GOLD AND SILVER
The primary trend is bullish (Dow Theory signal of March 17th, 2016), as reported here and here.
The secondary trend is bearish (secondary reaction against the primary bull market), as explained here.
GOLD AND SILVER MINERS ETFs
The primary trend is bullish as explained here, and more recently here
The secondary trend is bearish (secondary reaction against the primary bull market), as explained here.
Sincerely,
The Dow Theorist

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