Tuesday, September 23, 2014

Dow Theory Update for September 23: Stocks decline. Too early, though, to declare the existence of a secondary reaction

Gold and Silver remain walking on thin ice.

Very brief Dow Theory update today.


Recent declines from the last (confirmed) primary bull market highs do not qualify as a secondary reaction yet. We still have to wait. Thus, the primary and secondary  trend remains bullish.

Gold and Silver

While we are very close to a re-confirming the primary bear market (more about this here). Gold remains above the last recorded primary bear market lows, and hence, silver lower lows remain unconfirmed.

As to the gold and silver miners (GDX and SIL) no changes.


The Dow Theorist.

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