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 Welcome to Dow Theory Letters

A Leader and Innovator in Technical Stock Market Analysis

 for over 50 Years!


Founder Richard Russell's 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
  • "Richard's Wisdom" -- weekly column of selected past writings of Richard Russell, with commentary from the Dow Theory team relating them to market conditions today
  • 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

"Infinitely more important than sharing one's material wealth is sharing the wealth of ourselves—our time and energy, our passion and commitment, and, above all, our love." - William E. Simon

Making America Great Again

By Jon S. Strebler


Every so often, the sciences challenge conventional wisdom about when America was first settled or visited by humans, with the most recent example coming virtually from my own backyard. Last month paleontologists with the San Diego Natural History Museum presented evidence that a local mastodon was butchered by humans some 130,000 years ago, more than 100,000 years before humans were thought to have been in North America. Their theory is controversial and will need much more analysis and review before being accepted, so at this point it is mostly an interesting possibility.  




The Character of the Market is Changing

By Matthew Kerkhoff


Not too many people remember the second week of August, 2007, but for others, that week will be forever etched in their minds. And in many ways, it should be etched in yours as well.


During that infamous week, we witnessed an event that would later come to be known as the 2007 Quant Meltdown. While the events that unfolded took place in a relatively small pocket of the financial market, their effects would have consequences for all investors.


Richard's Thoughts on Bull Market Corrections

Dear Subscribers,


Today's article by Richard is very timely. Once again he reminds us of the power of the primary stock market trend. This also helps put this week's action into perspective...


Richard's Comments


The single most difficult concept to get across to investors (and I say this after many years of writing about it) is the concept of the great primary trend of the market.


New Silk Road

By Benjamin J. Butler


Somewhere on the West Coast of Korea 


I am spending a night with my daughter and wife in a hotel overlooking the ocean on the west coast of Korea. Like pretty much all of the coast of South Korea, there are military installations in the vicinity, but not enough to ruin the views. Since Moon Jae-In was elected President there has again been rhetoric that suggests a possible change in relations between the two Koreas. In recent weeks Trump has hinted a willingness to one day meet Kim Jong Un, and the new South Korean President said he wants to resolve the crisis and will fly to Pyongyang in North Korea if he has to.  


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