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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

"We need not think alike to love alike." Francis David

When Good News is Bad

By Jon S. Strebler


It’s not the news that matters, it’s how the market reacts to the news.” – Old market adage


Due to weak international markets, it appears less and less likely that the US Fed will raise interest rates this year. The virtual “sure bet” of a rate hike in September, based on a robust US economy, vanished after China devalued its currency in August. That move reinforced the seriousness of China’s economic problems and, unlike what some glib but ignorant US presidential candidates suggest, China’s #2 economy is a very big deal indeed and that country can’t be bossed around to follow our wishes. 


The Science of Investing

By Richard Russell


I just finished reading a book called Sports Leaders and Success by William J. O' Neal. O'Neal is founder of Investors Business Daily (IBD). If you read his newspaper, you'll see that he includes a massive number of quotes and information about individual stocks.


Resistance Ahead

By Matthew Kerkhoff


Friday’s weaker than expected jobs report appears to be providing investors with a sigh of relief, as the prospect of higher rates momentarily dims. The shift has resulted in a weaker dollar and higher commodity prices, which are releasing pressure in financial markets. Junk bonds are rallying today, as are emerging markets.


Man's Greatest Invention for Frustration

By Richard Russell


I've been thinking about the concept of making money. Money can provide two things: the first is security, in that money can buy a roof over your head and three meals a day. The second thing money can provide is stuff, mostly items that you use once and forget about, or items that you don't really need.


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