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.
US STOCKS
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.
Sincerely,
The Dow Theorist
No comments:
Post a Comment