The daily gold chart (top chart) shows that prices have broken an uptrend started in late July. Prices have also moved through the 200 day EMA and are pulling the shorter EMAs lower. Momentum has dropped and the CMF is weak. Finally, the heavy volume indicates traders are looking to get out. However, the weekly chart (bottom chart) shows that prices are still trading in a range between ~150 and ~175.
The weekly chart of copper shows that prices are still consolidating in a symmetrical triangle pattern, consolidating right around the 200 day EMA.
After the weaker housing starts news earlier in the week, the homebuilders section has stalled at upside support.
The financial sector has broken through resistance right around the 15.25 area. Prices are pulling the shorter EMAs higher on decent volume and rising momentum. Considering that financials comprise one of the largest sectors of the SPYs, this is an important development.
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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.