Stocks make higher highs
Let’s get started with our Dow Theory commentary for
today.
Stocks
The SPY, Industrials and Transports made higher highs.
The primary and secondary tend is bullish.
Today’s volume was higher than yesterday, which is
bullish as higher prices were met by expanding volume.
Gold and silver
GLD and SLV closed down. Silver violated the 04/15/2013
low. However, in spite of its closing down, didn’t violate such low. If this
lack of confirmation persist for some days or even weeks it might be indicative
of a bottom being made. However, if GLD breaks below the 04/15/2013 lows, the
primary bear market will be reconfirmed.
Here you have an updated chart that shows the current
situation. If the blue horizontal lines are jointly penetrated, a primary bull
market will be signaled as explained here.
If gold closes below the red horizontal line, the primary bear market will
be reconfirmed.
In the meantime the primary trend is bearish and the
secondary trend is bullish.
GDX and SIL, the gold and silver miners ETFs, closed
down and are very near the primary bear market lows. The primary and secondary
trend is bearish.
Here you have the figures of the markets I monitor for
today.
Data for May 15, 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 | 05/15/2013 | 166.11 | |
Current stop level: Bear mkt low | 135.7 | ||
Unrlzd gain % | Tot advance since start bull mkt | Max Pot Loss % | |
13.73% | 22.41% | 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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