Dow Theory Update for May 9: Stocks close with minor declines

 No change in trends

Where is the gold going?

It seems that GLD is not the only one gold investment avenue afflicted by inventory losses. Zero Hedge reports that JPM eligible vault gold has just dropped to a new record low as you can read here.

Maybe this link provides you with the answer.

Stocks

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

Today’s volume was lower than yesterday’s. Thus, we had a bullish volume day, as declining prices were not met by expanding volume.

Gold and Silver

GLD and SLV closed down. The primary trend is bearish, and the secondary trend is bullish.

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

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

 

Data for May 9, 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		05/09/2013	162.88
Current stop level: Bear mkt low			135.7
Unrlzd gain %	Tot advance since start bull mkt	Max Pot Loss %
11.52%	20.03%	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