Click Here to Subscribe Now! Try a 3-month trial for only $68

 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

"To learn new things; you might need to unlearn old thought and tricks. Both processes can never be achieved without humility." – Ajaero Tony Martins

Daily Recap

Stocks tally-hoed further to the upside today, adding to yesterday's big gains, although gains were concentrated mostly in the biggest blue chips. All major European and Asian markets rose, which makes the Europe Dow's decline of 0.15% seem odd, especially when the STOXX 600 gained 0.52%. The Asia Dow was more representative of its underlying exchanges - up 0.42%.


Sector Switches

by Jon S. Strebler


One hallmark of an extended bull market is shifting among different market sectors, as one group after another takes on a leadership role, then fades as other sectors gain in strength. With new all-time highs in most all stock market indexes, and finally in our own PTI (below) let’s look at a few areas of interest that are hot or maybe not.



Inside the Mind of a Crowd

By Matthew Kerkhoff


John Maynard Keynes once wrote what may be one of the most insightful observations on financial markets ever conceived:

We have reached the third degree where we devote our intelligence to anticipating what average opinion expects the average opinion to be. And there are some, I believe, who practice the fourth, fifth, and higher degrees.



More Articles »