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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

“A wealthy mindset minimizes expenses in self-entertainment and maximizes investments in self-education.” - Orrin Woodward

Richard’s Thoughts on Corrections and the VIX

Richard’s Comments


What are the two most difficult things to do in this business?  Here they are: (1) Buy early in a primary bull market and then ride the bull market all the way to near its completion.  (2) Sell out on a Dow Theory bear signal, and then stay out of the bear market until it's nearly completed.


Why are those two actions so difficult?  They're difficult because a bull market tries in every way to frighten you out of its clutches.  And a bear market tries in every way to draw you back into its grip.  In both situations, both the bull and the bear markets make full use of secondary reactions.



Something's Brewing With Gold

By Chuck Butler


Welcome back to another week of fun on the Butler Patio! For those of you who are new to my writings, The Butler Patio is where I used to tell my readers that they would have to meet me to further discuss things. When I started writing for Dow Theory Letters, they wanted me to have a name for my articles, and “On the Butler Patio” seemed to fit perfectly! 


Daily Recap

Equity markets had an overall positive tone today, with the Global Dow gaining 0.60%. The Asia Dow reflected mixed markets, ending down a tiny 0.03%. European markets were decidedly more bullish, and the STOXX 600 ended with a 0.69% gain; that sentiment rolled over to US markets, which opened on the upside.


Talk's Cheap

by Jon S. Strebler


The big story last week was significant ratcheting up of war talk out of N. Korea, followed by “I’ll see you, and raise you” from the U.S. Stock prices swooned around the world, as everyone wondered just how far two of the world’s most volatile leaders, backing nuclear-powered militaries (sort of, in N. Korea’s case), might push things. The vulnerability of stocks to an overdue correction has been widely touted; sometimes corrections seemingly develop out of nothing, and sometimes a dramatic event precipitates them. Could this be an example of the latter? 




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