Friday, April 19, 2013

Dow Theory Update for April 19: The moment of truth for stocks



 Will the decline be arrested or a mere respite before the fall?


It seems that all markets are testing the waters before either starting a new rally or resume declines. Under Dow Theory, there are no changes in trends.

Stocks

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


Today’s volume was higher than yesterday’s. Since prices closed up, it has a bullish implication.

Gold and silver


Once again, GLD “puked” gold yesterday. Will it be bled until extinction?

GLD closed up, SLV closed unchanged. The primary and secondary trend remains bearish.

SIL and GDX, the silver and gold miners ETFs, closed up. The primary and secondary trend remains bearish.

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

 
Data for April 18, 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
04/18/2013 155.48
Current stop level: Bear mkt low

135.7




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




6.45% 14.58% 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

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