Copper is a very important industrial metal, used in practically everything. As such, it's price direction is very important. Here is a daily chart of copper:
Prices have broken the primary long-term uptrend (A). Over the last four days, prices have printed two strong downward moving bars (B). Also note the 10 day EMA is about to move through the 20 day EMA -- a bearish development short-term.
Right now, this looks like a standard correction. However, we're been hammered with China and EU problems for the last week. Both news stories are potentially longer-term bearish, meaning we have to keep our eyes open for continued weakness.
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.