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 31: Stocks Setting Up For A Primary Bull Market Signal 0 comments
    Dec 31, 2012 4:42 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL

    Precious metals up

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

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

    It is noteworthy to highlight that a set up for a primary bull market signal was completed last Friday, December 28.

    Thus, both the SPY and Industrials experienced on Dec 28 a pullback exceeding 3% from their 12/18/2012 highs (Industrials: 13350.96; SPY: 145.37). Such a pullback (even if unconfirmed) sets stocks up for a primary bull market signal if the 12/18/2012 highs are bettered.

    In the meantime, we just have to wait.

    Today's volume was larger than Fridays, which has a bullish implication. The overall pattern of volume remains bearish.

    Gold and silver closed up. The primary and secondary trend remains bearish.

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


    The Dow Theorist

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