Gold and silver barely up.
Let's begin with our analysis of the markets under the Dow Theory.
The SPY and the Industrials closed up. The Transports barely down.
Volume was lower than yesterday's and given that the SPY closed up today, it has a bearish connotation, as the upward move was not supported by volume.
Gold and silver closed up. The primary trend remains bullish and the secondary trend bearish.
GDX (the gold miners ETF) closed up. SIL (the silver miners ETF) closed down. The primary trend remains bullish and the secondary trend remains bearish.
If your faith in market timing is weak, and you are a die-in-the-woods believer of "buy and hold" (or "hope") maybe you should read my piece in this Dow Theory blog "Why I like timing? Why I love the Dow Theory as a capital protector?" which you can find here.
The Dow Theorist