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 Jan 14: No Changes In Trends  0 comments
    Jan 14, 2013 6:00 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL

    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:



    (click to enlarge)
    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.


    The Dow Theorist

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