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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

“Ever notice that the people who tell you to calm down are the ones who got you mad in the first place?” from a Hallmark card

Richard's Remarks

With Europe slumping towards recession and Brazil doing the same, the US is fated to save the world from the horrors of deflation. Strangely, the US finds itself the only island of prosperity in a planet that is deflating. Ironically, money has been pouring into the US dollar, which in turn hurts our exports since this makes US merchandise more expensive. With the creation of additional trillions of dollars, the US has been unable to create its much desired 2% inflation rate. This, of course, is a testament to the deflationary forces. The European Central Bank, which would love to turn to QE, is stymied by Germany’s stubborn resistance to creating inflation.

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Matt's Market Insights

It's happened to us all. We walk out into the parking lot in search of our car. Deep in conversation we covertly rely on others in our group to lead the way, not wanting to leverage our own full attention to remember where the car is parked. After meandering around aimlessly for awhile we finally realize the others are doing the same thing ... distracted by conversation they too are following the group, and none of us knows where we're headed. It's the blind leading the blind.

 

This may sound like a strange analogy but I think in some ways it's relatable to what happens in the financial markets.

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Richard's Remarks

Ah, it’s been bubbling up from the depths of my unconscious and now I’m remembering. Back in the 1930s when I was a young boy, in the early days of the Great Depression, people were fascinated and obsessed with horror and fear. Those were the days when Hollywood provided the great fear and horror films -- King KongFrankensteinDracula, Boris Karloff - The Invisible Man -- in The Premature Burial. In those days horror was a popular theme, just as the Great Depression and the Dust Bowl resonated with people’s feeling of desperation and fearful horror.

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Strebler's Perspective

WHEN IN DOUBT, FOLLOW P.I.P, which many readers know stands for Proper Investment Procedures. The stock market in recent weeks has assuredly been confusing, with the last two weeks taking the cake in that regard. Sell signals followed by buy signals followed by a Dow Theory sell signal (sort of), followed by an enormous 900+ point rally in the Industrials. What’s an investor to think?

 

 


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