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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

"It is a good thing to be rich and a good thing to be strong, but it is a better thing to be loved by many friends." Euripides

Danger, Will Robinson

By Matthew Kerkhoff

 

From a technical perspective, the stock market is on fragile footing. Today’s decline in the Industrials reconfirms the bearish short-term trend by creating another “lower low.”

 

After reaching a new all-time high in late-May, unconfirmed by the Transports, the Industrials failed to overcome their prior high, and fell through their prior correction low. This led to the development of a short-term Dow Theory sell signal discussed on June 29th.

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Conditions Are Improving, Not Deteriorating

By Matthew Kerkhoff

 

At least that’s what the latest update from The Conference Board says. Released yesterday, the figures for June suggest that not only is the US economy improving, it will continue to do so.

 

The Conference Board’s Leading Economic Index (LEI) has a strong history of accurately predicting periods of weakness in the economy (see chart below). It accomplishes this by aggregating 10 leading indicators that generally turn first when an economic slowdown is approaching.

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Gold: The Anti-Dollar

By Richard Russell

 

I strongly suspect that John Williams is right, that the US, despite all the frantic government and Fed propaganda, has slid back into recession. This is something I am not happy about since I feel the future of the human race depends very much on the brilliance and the democratic desires of the United States. Studying the market figures, I can’t say that the market is going my way.

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