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Dow Theory Update For July 25: Primary And Secondary Trends Unchanged




US STOCKS

The primary trend is bullish since November 21st, 2016, as explained here and here.

The primary trend was reconfirmed on July 3rd, 2017 as was explained here


No secondary reaction in sight.

GOLD AND SILVER


The primary trend was declared bearish on July 7th, 2017, as explained here and here



The current rally doesn’t qualify as a secondary reaction yet.

GOLD AND SILVER MINERS EFTs

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

The secondary trend is bullish as explained here

As was explained here, SIL and GDX have set up for a primary bull market signal.

Days pass by and nothing happens. Well, this is normal. Patience.

Sincerely,

The Dow Theorist