This is a very interesting chart. There are currently two key features. First, notice that the 91.5 level has offered a tremendous amount of resistance -- prices have approached that level three times in the last month of so only to be rebuffed. Secondly, notice that the EMAs are bunched together in a tight range and are tied together with prices. This tells us the market is pretty directionless right now.
From a fundamental view, this directionless makes sense. There is a tremendous amount of supply coming to market which is adding downward pricing pressure. However, there is continued talk of the market's need to sell-off a bit, which would increase Treasuries appeal because of their safe haven status. In short, the cross currents are strong 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.