Monday, January 28, 2013

Dow Theory Update for Jan 28: Precious metals meltdown unabated




 Stocks hold its ground.


Today is going to be a short post.

Stocks closed mixed. The SPY and Industrials closed slightly down. The Transports slightly up. The primary and secondary trend remains bullish.

Volume was lower tan last Friday’s. Since the SPY closed down, this is a bullish sign.

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

Gold and silver miners ETFs (GDX and SIL) closed down. The primary and secondary trend remains bearish.

Tomorrow I’ll have more time to provide you with a more extensive post.

Until then,

Sincerely,

The Dow Theorist

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