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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

"The only people with whom you should try to get even are those who have helped you." - John E. Southard

Central Bank Frustrations

By Chuck Butler


Welcome to another edition of the Butler Patio… I’m currently stuck in S. Florida, so I have no patio to preach from at the moment, but if I put it all down in words on paper, somebody will read it!


The Trade War digs its heels in deeper… Gold continues to be subjected to China’s whims, and just when everyone is thinking that it’s happy days are here again, the economy is showing signs of fatigue…  And of course there’s bound to be a discussion about Central Banks and bankers after that heading above, eh?



Daily Recap

The closing bell brought relief of some sorts today, after a brutal beating in the precious metals and not much joy in equities, either. For the precious metals, it was mostly just a matter of the bearish trend running the show, after key support levels were taken out in the last few days. Excuses du jour included a strong dollar and more drama out of the Turkish situation. Sharply lower stock prices caught a break after the announcement of better than expected retail sales, worker productivity, and solid manufacturing output, however.



Remember Real Estate?

by Jon S. Strebler 


We concentrate on stocks, fixed income, and precious metals for our analysis and recommendations, but we know there are other attractive investment options out there.  Chief among those are real estate, which for many people means primarily their personal residence.  In the late-1970s, after years of sloppy stock market performance, and a heating up of inflation, real estate equity was the preferred investment for the majority of Americans.



Dollar Breakout Threatens Rally

By Matthew Kerkhoff


The story of 2018 has been one of U.S. growth, but not necessarily global growth. While most major economies around the world are still expanding, they have been decelerating or holding steady, whereas the U.S. economy has been picking up steam.


And as is typically the case, a stronger relative outlook for the U.S. has led investors to bid up the dollar, which is causing a reshuffling of the cards. Currencies always have a way of sharing and redistributing growth around the globe, and this time is no different.



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