We are very near to a primary bear market signal for stocks
Last Friday 23rd, stocks set up for a
primary bear market signal, as explained here.
The SPY, Industrials and Transports closed down. The Industrials
violated their secondary reaction lows (which puts us very near to a primary
bear market signal). However, lack of confirmation (as neither the SPY nor the
Transports violated their respective secondary reaction lows) prevent us from
declaring a primary bear market. Tomorrow’s action may prove to be decisive.
The secondary trend is bearish as explained here.
Gold and Silver
SLV and GLD closed down. The primary trend is bullish
as explained here. The
secondary trend is bullish too (no secondary reaction in sight).
Last weekend I posted some thoughts concerning the
primary bull market signal for SLV and GLD. As you will read, I particularly
like this specific signal in terms of risk reward and chart structure (which
makes it easy to attain handsome rewards).
Gold and Silver
miners ETFs (GDX and SIL)
As to the gold
and silver miners ETFs, SIL closed and GDX closed down.
On January 12, 2015, a primary bull market was
signaled. More information as to the details of such a signal here.
The primary and secondary trend is bullish..
Sincerely,
The Dow Theorist
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