…although the Dec 31 closing highs remain untouched.
Let's get started with our Dow Theory commentary for today.
If you are interested in reading the 2013 Dow Theory review please go here. You'll see that we tended to be on the right side of the market most of the time.
The SPY, and the Transports closed up. The Industrials closed down. Days pass by and the 12/31/2013 closing highs remain untouched.
Gold and Silver
SLV and GLD closed up. For the reasons I explained here, and more recently here, I feel the primary trend remains bearish. Here I analyzed the primary bear market signal given on December 20, 2012. The primary trend was reconfirmed bearish, as explained here. The secondary trend is bullish (secondary reaction against the primary bearish trend), as explained here.
The Dow Theorist