......................Wave 3 Still In Progress!

A short term cycle high probably did not occur today, which means that the Wave 3 short term upcycle is probably still in progress and a higher short term cycle high, the Wave 5 short term cycle high of the monthly upcycle since 10-20-05, should occur after the Wave 3 short term cycle high that will probably occur this week.

The XAU is in very flat uptrend, see 5 day chart: http://finance.yahoo.com/q/ta?s=%5Exau&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c= , since bottoming a few hours into the session, so it appears that the XAU Put/Call Ratio and XAU Implied Volatility will correctly portend strength for most of the session and the NEM Lead Indicator, which was very bearish on Friday 11-11, correctly portended that the XAU and HUI would take a dive today.