Gold and Silver remain walking on thin ice.
Very brief Dow
Theory update today.
US STOCKS
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.
Sincerely,
The Dow
Theorist.
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