Dow Theory Update for Feb 13: Gold and silver down

 Stocks mostly up

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

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

Volume was up. Since today it was an up day, it has a bullish connotation. For the reasons stated here, I see the overall pattern of volume turning bearish (at least for the short term, let’s say 2-3 weeks).

Gold (GLD) and silver (SLV) closed down. As you can see, investing along the primary trend can be boring. On December 20, the Dow Theory, by signaling a primary bear market, told us that the safest course of action was to stay on the sidelines. Since that date, the market condition has not changed, and no action was required.

The primary and secondary trend remains bearish.

GDX (gold miners ETF) and SLV (silver miners ETF) closed down. The primary and secondary trend remains bearish.

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

 

Data for February 13, 2013
DOW THEORY PRIMARY TREND MONITOR SPY
			SPY
Bull market started		11/15/2012	135,7
Bull market signaled		01/02/2013	146,06
Last close		02/13/2013	152,15
Current stop level: Bear mkt low			135,7
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
4,17%	12,12%	7,63%
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		12/20/2012	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		12/20/2012	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
Exit January 23		01/24/2013	21,69
Current stop level: Sec React low		11/15/2012	21,87
Realized Loss %	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
Exit January 23		01/24/2013	44,56
Current stop level: Sec React low		12/05/2012	45,35
Realized Loss %	Tot advance since start bull mkt	Max Pot Loss %
-6,72%	12,64%	20,75%

Sincerely,

The Dow Theorist