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Dow Theory Update For Jan 10: Stocks Make New Highs. Primary Trend Confirmed Bullish

|Includes:DIA, GDX, GLD, IYT, SIL, SLV, SPDR S&P 500 Trust ETF (SPY)

Gold, silver and their miners up.

Today is a relevant day for stocks under Dow Theory.

The SPY, the Industrials and the Transports have bettered their Jan 4 highs (which at the same time bettered the Jan 2 highs). Under Dow Theory confirmed higher highs is always a bullish sign. Hence, the primary and the secondary trend of stocks is bullish. Here you have an updated chart:



The primary trend is bullish as per the Dow Theory. Higher highs made today

Volume was higher today than yesterday's. Given that stocks closed up today, it is a bullish sign. For the reasons I gave yesterday in this Dow Theory blog, the overall assessment of the volume patterns is bullish.

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

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


The Dow Theorist