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Dow Theory Update For July 29: Stocks And Precious Metals Close Down

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

Trends remain unchanged.

Stocks

The SPY, Industrials and Transports closed down.

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

Today's volume was lower than Friday's, which is bullish as lower prices were not confirmed by expanding volume. 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