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Manuel Blay
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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).
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Dow Theory Investment
  • Dow Theory Update For July 30: Indecisive Day For Stocks  0 comments
    Jul 30, 2013 4:27 PM | about stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL

    Precious metals close down

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

    Stocks

    The SPY closed unchanged and the Industrials closed down. The Transports closed up.

    Here you have an updated chart reflecting the latest action of the three indices we monitor:

     

     

    (click to enlarge)
    Primary and secondary trend remains bullish

    The primary and secondary trend is bullish, as explained here, and more in-depth here.

    Today's volume was higher than yesterday's. However, as price action was so indecisive, I don't ascribe any particular meaning to today's action. The overall pattern of volume is bearish.

    Gold and Silver

    SLV and GLD closed down. The primary trend is bearish, as explained here and reconfirmed bearish here. The secondary trend is bullish (secondary reaction against the primary bearish trend), as explained here.

    GDX and SIL, the gold and silver miners ETFs closed down

    The primary trend is bearish, as explained here and reconfirmed bearish here.

    The secondary trend for GDX and SIL is bullish, as explained here.

    Sincerely,

    The Dow Theorist

    Themes: Dow Theory Stocks: SPY, DIA, IYT, GLD, SLV, GDX, SIL
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