Wednesday, January 23, 2013

Dow Theory Update for Jan 23: Stocks up again



 Precious metals mixed.


Let’s get started with our Dow Theory commentary for today in this blog.

The SPY, Industrials and Transports closed, once again, up. It goes without saying that the primary and secondary trend remains bullish.

Volume was lower than yesterday’s. Since it was an up day in has a bearish connotation. For the second day in a row we have had diverging volume. In the very short term, the pattern of volume seems to be deteriorating. Here you have an updated chart.

Is volume turning short term bearish?

 
Gold (GLD) closed down and silver (SLV) up. The primary and secondary trend remains bearish.

SIL and GDX (the silver and gold miners ETFs) closed down. 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 January 23, 2013





DOW THEORY PRIMARY TREND MONITOR SPY




SPY
Bull market started
11/15/2012 135.7
Bull market signaled
01/02/2013 146.1
Last close
01/23/2013 149.4
Current stop level: Bear mkt low

135.7




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




2.27% 10.07% 7.63%




DOW THEORY PRIMARY TREND MONITOR GOLD (GLD)



GLD
Bull market started
05/16/2012 149.5
Bull market signaled
08/22/2012 160.5
Exit December 20
12/20/2012 161.2
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
12/20/2012 29
Current stop level: Sec React low
11/02/2012 29.95




Realized gain % Tot advance since start bull mkt





0.28% 13.15%





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
01/23/2013 21.69
Current stop level: Bear mkt low

17.08




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




-0.64% 26.99% 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
01/23/2013 44.56
Current stop level: Bear mkt low

39.56




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




-6.72% 12.64% 20.75%



Sincerely,

The Dow Theorist

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