Let's pull the lens back and put today's action in perspective
Prices jumped but closed below the open. Prices also formed a hammer -- not exactly the most promising candle we could see.
Also note the following:
-- Prices jumped into the 10 day SMA and fell to the 20 day SMA
-- The SMA picture is very confusing. While they are all going lower, they are also bunched together very tightly along with prices. In other words -- we don't have a solid direction either way right now.
Short version: when all is said an done, we're still pretty directionless right now.
I'm on Linked In and Twitter (@captivelawyer). Silver Oz's Linked In name is @silver_oz. NDD is a fossil and may be reached by etching a picture in stone on the wall of a cave.
The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.