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Dow Theory Update For Jan 14: No Changes In Trends

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

Gold and silver up.

Today is going to be a short post, since not all days are rich in Dow Theory significant events.

The Industrials and Transports closed up. The SPY closed down. The primary and secondary trend remains bullish.

Today's volume was lower than yesterday's. Since the SPY was down today, I'd say that the overall weakness was more prevailing than strength. So lower volume has a bullish connotation, as declining prices were not confirmed by increasing volume. The bullish conclusions I wrote in this post in this Dow Theory remain valid. Here you have an updated chart:

 

 

Volume continues bullish short term

Gold and silver closed up. Silver (NYSEARCA:SLV) bettered the last recorded highs of 01/02/2013. However, gold didn't deign to confirm. The primary and the secondary trend remain bearish.

The gold and silver miners ETFs (GDX and SIL) closed down. The primary trend remains bullish and the secondary trend bearish.

Sincerely,

The Dow Theorist

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