The weekly chart shows a clear downtrend. The MACD and RSI are both moving lower. Prices are moving lower and have consolidated losses in at least on triangle. All the EMAs are moving lower, the shorter EMAs are below the longer EMAs and prices are below all the EMAs.
The daily chart shows a move lower but notice that the technical indicators are weakly indicating a lower move. The trajectory -- the steepness of the RSI and MACD -- aren't that severe 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.