This morning’s action is mainly a reaction to more bad news in the housing sector. Consumer sentiment didn’t help. But, strangely enough, the daily charts of the major indices actually have the MAs turned up. I wonder if the bulls are waiting to pounce again in the afternoon. We’ll have to wait and see.
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![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_6.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_6.gif)
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