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Dow Theory Update For Jan 11: Stocks Mixed. No Change In Trends

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

Gold and silver down.

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

The SPY closed down (a cent), the Industrials up and the Transports down. A trendless day. The primary and secondary trend is bullish.

Today's volume was lower than yesterday's. Since overall it was a bearish day (albeit very muted) today's volume has a bullish implication. The overall pattern of volume remains bullish. More information about my volume studies here.

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

SIL and GDX (the silver and gold miners ETF) closed down today. The primary trend is bullish and the secondary trend is bearish.

Sincerely,

The Dow Theorist

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