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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

"When you go into court you are putting your fate into the hands of twelve people who weren't smart enough to get out of jury duty." Norm Crosby

Richard's Remarks

The overall situation is as complicated as I’ve ever seen it. But I’m going against the trend, and I want to keep it simple. Here’s a simple choice: stay on the West Coast and die of thirst or move to the East Coast and die of Ebola. And if you make the trip either way, make sure that none of the passengers on your plane have come from West Africa.

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Matt's Market Insights

Let's take inventory of where the major averages sit. The Industrials have now recovered to the point where I believe it's fair to say that the initial correction from previous highs is complete. We've put in the initial correction lows that will now act as our bearish trigger. For the Industrials, that line in the sand comes in at 16,100. A rise above 17,280 would put us back to new closing highs, and if confirmed by the Transports would give us a reconfirmation of the bull thesis. Those two scenarios are outlined below using the green and red arrows.

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Richard's Remarks

We're entering what I call the moment of truth. Aside from all the noise and rumors, what do we really know? We know that Germany is slowing down, that their GDP is slumping. We know that China is slipping. We know that the world is deleveraging and deflating. We know that the Federal Reserve is deathly afraid of deflation, and is worried that with all their QE they still can't create two percent inflation. We also know that Germany is terrified of inflation and won't stand for quantitative easing or other inflationary tactics.

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Notes From an Actuary

By Jonathan Wallentine, our friend at Amco

 

Are Bonds "Risky" in a Rising Interest Rate Environment?

 

Given the current low interest rate environment we’ve found ourselves in since the financial crisis, I can’t count the number of times over the last few years that I’ve heard investors say, “and with that interest rate risk…” After hearing this over and over and giving the same explanation, I’ve decided to put my explanations and thoughts into print.

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