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 Welcome to Dow Theory Letters

A Leader and Innovator in Technical Stock Market Analysis

 for over 50 Years!

 

Richard Russell and his team of talented analysts work daily to bring you the best of primary trend analysis, investor education and intelligent investing advice.

 

How We Are Different

  • We believe in “market timing.” Our goal is to get you out at the top and in at the bottom of major, long-term market moves.
  • Daily edition. Dow Theory Letters is published daily, an hour after the market closes, at 2 pm, Pacific Standard Time. 
  • Value. We provide the analysis of our entire team to you for one low price.

 

What You Get

  • Daily market analysis from one of our outstanding columnists
  • Daily commentary and musings from analyst emeritus Richard Russell
  • The Primary Trend Index (PTI) our proprietary trend indicator
  • Market data section with everything you need to get a full picture of how the market is evolving

 

 

Quote of the Day

"Life is like photography. You need the negatives to develop." Unknown

Richard's Remarks

Below we see a P&F chart of the Dow, obviously we are on a sell signal and more recently and hopefully the Dow has advanced by 10 boxes (each box equals 50 points). What is needed to turn the chart bullish is a decline of at least three boxes and then a column of rising X’s, which will take the new column above the high of the previous row of X’s. In other words, an upwards zigzag. Another way would be if the current column of X's simply rises to the 17,100 box.

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Matt's Market Insights

"To each their own" is a saying I've come to embrace in life, and especially in the markets. Differences among individuals should be cherished, as everyone has some unique perspective to offer based on his or her own life experiences and learning. I think this applies perfectly to market analysis as well. In the subjective game of forecasting the movement and direction of various financial markets, no two people will ever completely agree. And this is a wonderful thing. After all, as Ben Carson put it, "When two people agree on everything, one of them is irrelevant."

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Richard's Remarks

There are over a dozen different news items that are affecting the stock market today. As is my usual custom, rather than talk about the news, I will concentrate on the action of the stock market. Occam’s razor tells us the simplest and most direct explanation is usually the best one. Below we see a daily chart covering two years of the Dow. For the first time in the last two years, we see the Dow trading below both its moving averages. In doing something that it hasn’t done in the last two years, I believe this represents a trend change.

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The International Investor

by Benjamin J. Butler

 

Seoul, Republic of Korea, 16th October 201

The Committee forecasts that the global economy will sustain its modest recovery going forward, centering around the US, but judges that the possibility exists of its being affected by the changes in global financial market conditions stemming from the shift in the US Federal Reserve’s monetary policy stance, by the prolongation of economic sluggishness in the euro area, by the weakening of economic growth in some emerging market countries, and by geopolitical risks

Published by the Bank of Korea yesterday, after cutting rates another 25 bps.


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