Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Dow Theory Update For Nov 5: Mildly Bullish Day.

|Includes:DIA, GDX, GLD, IYT, SIL, SLV, SPDR S&P 500 Trust ETF (SPY)
No changes in trends.

The SPY, Industrials and Transports closed up for today. Technically, nothing has changed. The primary trend remains bullish, and the secondary trend remains bearish.

Volume was lower today, which render it a bearish volume day, since the up close was not confirmed by higher volume. Hence, the pattern of volume continues short term bearish.

As to gold, silver and their respective miners ETFs, GLD and SLV closed up (albeit timidly) and GDX and SIL closed down. Technically, nothing has changed. The primary trend remains bullish and the secondary trend bearish. The secondary reaction runs its course.

SIL refuses to violate the lower boundary of its trading range. Hence, it is still doubtful whether the miners are in a secondary reaction if at all.

Sincerely,

The Dow Theorist

Stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL