Friday, June 7, 2013

Dow Theory Update for June 7: Stocks up on lower volume



 Precious metals universe lethargic


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

Stocks

The SPY, Industrials and Transports closed up. The primary trend is bullish, and the secondary trend is bearish for the reasons explained here.


Today’s volume was lower than yesterday, which has a bearish connotation as higher prices were not supported by heavier volume. The overall pattern of volume is bearish, and is currently aligned with the secondary trend of the market. Here you have an updated chart:


 
Volume is bearish.

Gold and Silver

I didn’t talk about GLD’s inventory losses for some days. Well, the bleeding continues.

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

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 June 7, 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
06/07/2013 164.8
Current stop level: Bear mkt low

135.7




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




12.83% 21.44% 7.63%




Alternative Schannep's stoploss: 


Highest closing high
05/21/2013 167.17
16% stoploss from highest closing high

140.423


Max Pot Loss %


-3.86%




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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