Wednesday, October 31, 2012

Dow Theory Update for Oct 31: SIL displaying strength



No changes in trends.
 

No big news today, so this Dow Theory commentary on this blog will be brief.

The SPY closed unchanged, and the Industrials were slightly down. Transports, again displaying more relative strength closed up. Technically, nothing has changed. The primary trend remains bullish, and the secondary trend remains bearish. It has been a so neutral day that I prefer not to derive any inferences from volume.

As to gold, silver and their respective miners ETFs all of them closed up for the day. The miners displayed greater relative strength. Particularly, SIL closed slightly below the highest high of 10/04/2012.  The silver universe keeps on being strong.

The primary trend of gold and silver remains solidly up. The secondary trend remains bearish. As to their ETFs, and as I expressed here, I have my qualms as to classifying their price action as a secondary reaction. What is clear is that the primary trend is solidly bullish too.

Let’s see what tomorrow will bring. 

Tomorrow my daily commentary will be somewhat delayed. In any instance, you will get it before the open of Friday. 

Here you have the figures of the markets I monitor for today.

 
Data for October 31, 2012





DOW THEORY PRIMARY TREND MONITOR SPY



SPY
Bull market started 06/04/2012 128,1
Bull market signaled 06/29/2012 136,1
Last close
10/31/2012 141,35
Current stop level: Bear mkt low
128,1




Unrlzd gain % Tot advance since start bull mkt Max Pot Loss %




3,86% 10,34% 6,25%




DOW THEORY PRIMARY TREND MONITOR GOLD (GLD)



GLD
Bull market started 05/16/2012 149,46
Bull market signaled 08/22/2012 160,54
Last close
10/31/2012 166,83
Current stop level: Bear mkt low
149,46




Unrlzd gain % Tot advance since start bull mkt Max Pot Loss %




3,92% 11,62% 7,41%




DOW THEORY PRIMARY TREND MONITOR SILVER (SLV)



SLV
Bull market started 06/28/2012 25,63
Bull market signaled 08/22/2012 28,92
Last close
10/31/2012 31,26
Current stop level: Bear mkt low
25,63




Unrlzd gain % Tot advance since start bull mkt Max Pot Loss %




8,09% 21,97% 12,84%




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
10/31/2012 25,29
Current stop level: Bear mkt low
17,08




Unrlzd gain % Tot advance since start bull mkt Max Pot Loss %




15,85% 48,07% 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
10/31/2012 52,9
Current stop level: Bear mkt low
39,56




Unrlzd gain % Tot advance since start bull mkt Max Pot Loss %




10,74% 33,72% 20,75%

Sincerely,

The Dow Theorist

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