Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Dow Theory Update For May 23: Stocks Close Down. No Change In Trends

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

Gold and silver up.

Jon Strebler of the Dow Theory Letters nails it.

A couple of days ago, Jon Strebler, Russell's associate in the Dow Theory Letters, nailed it. He advocated for minimalism in investing. The less noise, the less information, which mostly is random, the better. The bottom line for him is the charts. In his own words: "Are the charts bullish or are they bearish? Is the market going up, or is it going down? That's all that matters" (emphasis supplied by Strebler).

However, to be a real "minimalist" takes time and experience.

Stocks

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

Today's volume was lower than yesterday's, which is bullish. As declining prices were not met by expanding volume.

Gold and silver

GLD and SLV closed up. The primary and secondary trend is bearish.

GDX and SIL, the gold and silver miners ETFs closed up. The primary and secondary trend is bearish.

Sincerely,

The Dow Theorist

Stocks: SPY, GLD, SLV, GDX, SIL