Seeking Alpha

Manuel Blay's  Instablog

Manuel Blay
Send Message
Investor and Trader As investor I'm deeply influenced by Dow Theory. I focus on the primary trend (1-2 years). My trading is short-term based (avg trade duration 4-5 days).
My blog:
Dow Theory Investment
  • Dow Theory Update For Feb 11: Gold Testing Recent Lows  0 comments
    Feb 11, 2013 7:10 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL
    Stocks mildly down.

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

    Do you want to know how the Dow Theory fared during the secular 1966-1981 bear market? You can find the answer here.

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

    Volume was lower than Friday's. Since it was a down day, it has a bullish connotation. In spite of today's bullish volume, I see a bearish volume pattern forming. Thus, I see that since 31/01/2013 the overall trend of volume is down, whereas, albeit midly, the trend of prices is up. Such divergence seems to suggest that the most recent upward market action has not been supported by volume as it retreats. Look at the chart below that speaks for itself:

     

     

    (click to enlarge)
    Volume is turning bearish. Is a secondary correction in the making?

    Gold (NYSEARCA:GLD) and silver (NYSEARCA:SLV), once again, fell out of bed. The primary and secondary trend remains bearish.

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

    Sincerely,

    The Dow Theorist

    Themes: Dow Theory Stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL
Back To Manuel Blay's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.