Manuel Blay's  Instablog

Manuel Blay
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Trader and investor. My trading is short-term based (avg trade duration 4-5 days). As investor I'm deeply influenced by Dow Theory
My blog:
Dow Theory Investment
  • Dow Theory Update For Dec 11: Stocks Up. No Change In Trends 0 comments
    Dec 11, 2012 4:46 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL

    Precious metals mostly down.

    Let's get started with our Dow Theory commentary for today.

    The SPY, Industrials and Transports closed up. The primary trend remains bearish and the secondary trend (secondary reaction) bullish.

    Volume was higher than yesterday's and since today was an up day, it has a bullish connotation (at last!). The overall pattern of volume remains, nonetheless, bearish.

    Gold and silver closed down today. I keep watching the Nov 2 lows. A joint violation of them would mean a primary bear market signal.

    SIL closed up, and GDX closed down. The primary trend remains bullish, and the secondary trend remains bearish.

    Sincerely,

    Dow Theorist

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