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 16: Indecisive Day For Stocks  0 comments
    Jan 16, 2013 4:27 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL

    Gold and silver up

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

    The SPY and the Industrials closed slightly down. The Transports closed up. The primary and secondary trend remain bullish.

    Today's volume was lower than yesterday's. Given that it was a down day, it has a bullish implication, as declining prices were not supported by volume. The overall pattern of volume remains bullish.

    Gold (NYSEARCA:GLD) and silver (NYSEARCA:SLV) closed up. Gold refused to better the 01/02/2013 closing highs. Another day of non confirmation. The primary trend and the secondary trend remains bearish.

    SIL and GDX (the silver and gold miners ETFs) closed down today. 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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