Dow Theory Update for April 12: Gold and silver fall out of bed. Primary bear market reconfirmed

 GLD losses massive 22.86 tonnes

 

Volume is bearish on a long-time  perspective.

Danielle Park has posted an interesting article in her blog “Juggling Dynamite." According to Park, volume has been extremely bearish from a long time perspective. The post contains two sobering charts.

Stocks

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

Friday’s volume was higher than Thursday’s. Since stocks closed down, it has a bearish connotation.

Gold and silver

GLD lost a massive 22.86 tonnes. Is paper gold going towards its intrinsic value whereas the East hoards the physical?

GLD and SLV closed down and made lower lows thereby reconfirming the primary bear market.

GDX and SIL closed and made lower lows thereby reconfirming the primary bear market.

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

 

Data for April 12, 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		04/12/2013	158.8
Current stop level: Bear mkt low			135.7
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
8.72%	17.02%	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.