Dow Theory Update for Nov 26: No changes technically

Mixed, inconclusive day.

 

Let’s begin our Dow Theory commentary for today.

Stocks were mixed. The SPY and the Industrials closed down. The Transports closed up.

Volume was higher today. Given than the SPY closed down this makes it a bearish volume day. We have had 5 bearish volume days in a row. This is indeed not very bullish, at least short term.

Thus, as per Dow Theory, the primary trend and secondary trend for stocks remains bearish. Those interested in knowing what other Dow Theorists are saying may find the following post interesting “Dow Theory recap: What are other Dow Theorists saying?” which you can find here.

GLD closed slightly lower. SLV closed slightly up. Technically, nothing has changed. The primary trend remains bullish, and the secondary trend remains bearish.

GDX closed up (by just one cent) and SIL closed down. Again,  technically nothing has changed. 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 November 26, 2012
DOW THEORY PRIMARY TREND MONITOR SPY
			SPY
Bear market started		09/14/2012	147.24
Bear market signaled		11/16/2012	136.37
Last close		11/26/2012	141.05
Current stop level: Bull market high			147.24
Price chg since bear mkt signaled	Tot decline since start bear mkt	Max Pot Loss %
3.43%	-4.20%	-7.38%
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		11/26/2012	169.43
Current stop level: Bear mkt low			149.46
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
5.54%	13.36%	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		11/26/2012	33.02
Current stop level: Bear mkt low			25.63
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
14.18%	28.83%	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		11/26/2012	23.17
Current stop level: Bear mkt low			17.08
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
6.14%	35.66%	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		11/26/2012	48.75
Current stop level: Bear mkt low			39.56
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
2.05%	23.23%	20.75%

Sincerely,

The Dow Theorist