Dow Theory Update for Dec 27: Stocks down once again

 Gold and silver up

The SPY, Industrials and the Transports closed down again. A rally, albeit small, is more than due. In the meantime, the primary trend remains bearish and the secondary trend bullish.

Volume today was higher than yesterday’s. Given that stocks closed down, it has a bearish connotation. The overall pattern of volume is bearish.

Gold and silver closed up. The primary trend and the secondary trend remains bearish.

The silver miners’ ETF (SIL) closed down today, whereas its gold peer (GDX) closed up today. The primary trend remains bullish, and the secondary trend remains bearish.

BLV (long-term bond term bond) closed for up for a second day in a row. However, technically BLV is bearish. The BLV/GLD ratio continues bullish in favor of BLV.

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

 

Data for December 27, 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		12/27/2012	141,56
Current stop level: Bull market high			147,24
Price chg since bear mkt signaled	Tot decline since start bear mkt	Max Pot Loss %
3,81%	-3,86%	-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
Exit December 20		12/27/2012	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		12/27/2012	29,00
Current stop level: Sec React low		11/02/2012	29,95
Realized gain %	Tot advance since start bull mkt
0,28%	14,09%
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		12/27/2012	22,17
Current stop level: Bear mkt low			17,08
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
1,56%	29,80%	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		12/27/2012	45,44
Current stop level: Bear mkt low			39,56
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
-4,88%	14,86%	20,75%

 

Sincerely,

The Dow Theorist