....................Upside Gap Filling Action

The XAU filled it's upside gap at 119.06 that was created at 11-23's gap down open. Both XAU Implied Volatility and the XAU Put/Call Ratio portend strength/an uptrend for some of today's session while the NEM Lead Indicator was bearish on Friday at -0.53%, but is bullish today. XAU Implied Volatility fell -1.27% to 29.130 on Friday 11-25 from 29.505 on 11-23 versus a +2.06% rise in the XAU on 11-25, which is a significant (0.50-1.99%) 5.82% rise in fear (-1.27% + +2.06% = +0.79%. The XAU wall of worry grew by +0.79%, therefore fear rose by +0.79%) that portends strength/an uptrend during part of Monday 11-28's session. The XAU Put/Call Ratio rose to 0.66179 today from 0.65499 which portends strength/an uptrend during part of today's session.

NEM is acting well so far today and has surprisingly exceeded it's cycle high at 47.74 from 11-22 with a cycle high so far today at 47.84. Looks like the monthly upcycle Elliot Wave 3 is peaking today for HUI, NEM, and the XAU. Stay tuned.