Today is going to be a short post in this Dow Theory blog.
The Industrials closed up. The Transports and SPY closed down.
The primary trend and secondary remain bearish.
Volume was very high. Since overall it was a down day, it was, again, a bearish volume day. Volume continues bearish and is negating validity to the current rally.
Gold, silver and their ETFs (GDX, SIL) closed down today. Technically, nothing has changed. The primary trend remains bullish and the secondary bearish.
The Dow Theorist