Primary and secondary trends unchanged for precious metals
As usual with me, I have almost no time to blog. I hope next week I can do some more writing. I also hope that in the next two weeks I’ll be able to pen the next post concerning the Schannep’s capitulation indicator saga. Hitherto, two "capitulation" articles have been posted.
The primary trend as per Schannep’s Dow Theory is bullish since March 1st, 2019 when both the Industrials and the S&P 500 closed at +19% from the 12/24/2018 bear market closing lows. The secondary trend is bullish too, as explained here.
Today the primary trend did also turn bullish as per the “Rhea/Classical” Dow Theory. The Industrials and the Transports jointly bettered on the very same day their respective secondary reaction (against the primary bear market) closing highs (sec reaction highs made on 2/21/2019 for the Transports and 2/25/2019 for the Industrials). More about the setup that finally materialized into a primary bull market signal here.
Here you have an updated chart. The huge blue rectangles depict the secondary (bullish) reaction against the primary bear market. The red rectangles display the pullback that setup the Industrials and Transports for the primary bull market signal.
|After a huge secondary reaction and subsequent pullback we got at last the primary bull market signal|
GOLD AND SILVER
The primary and secondary trend is bullish since 12/24/2018 as explained here. No changes. The most recent pullback did not fulfill the time requirement for a secondary reaction. Hence, no secondary reaction.
GOLD AND SILVER MINERS ETFs
The primary and secondary trend is bullish since 12/18/2018 as explained here. No changes.
The most recent pullback did not fulfill the time requirement for a secondary reaction. Hence, no secondary reaction.
The Dow Theorist