Dow Theory Update for Dec 6: Stocks mildly up. No changes in trends

Gold and silver barely up.

Let’s begin with our analysis of the markets under the Dow Theory.

The SPY and the Industrials closed up. The Transports barely down.

Volume was lower than yesterday’s and given that the SPY closed up today, it has a bearish connotation, as the upward move was not supported by volume.

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

GDX (the gold miners ETF) closed up. SIL (the silver miners ETF) closed down. The primary trend remains bullish and the secondary trend remains bearish.

If your faith in market timing is weak, and you are a die-in-the-woods believer of “buy and hold” (or “hope”) maybe you should read my piece in this Dow Theory blog “Why I like timing? Why I love the Dow Theory as a capital protector?” which you can find here.

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

 

Data for December 6, 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		12/06/2012	141,98
Current stop level: Bull market high			147,24
Price chg since bear mkt signaled	Tot decline since start bear mkt	Max Pot Loss %
4,11%	-3,57%	-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		12/06/2012	164,5
Current stop level: Sec React low		11/02/2012	162,6
Unrlzd gain %	Tot advance since start bull mkt	Min Pot Gain %
2,47%	10,06%	1,28%
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		12/06/2012	31,93
Current stop level: Sec React low		11/02/2012	29,95
Unrlzd gain %	Tot advance since start bull mkt	Min Pot Gain %
10,41%	24,58%	3,56%
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		12/06/2012	22,11
Current stop level: Bear mkt low			17,08
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
1,28%	29,45%	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		12/06/2012	45,55
Current stop level: Bear mkt low			39,56
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
-4,65%	15,14%	20,75%

Sincerely,

The Dow Theorist.