Why There Is Probably A Higher Short Term Cycle High After This One

Besides Elliot Wave, which suggests that there should be a higher short term cycle high in this monthly upcycle corresponding to Wave 5 after the one that will occur (or has occurred) in this short term upcycle that corresponds to Wave 3, is the fact that NEM hasn't exceeded it's prior monthly cycle high that occurred on 9-30-05 above 48. NEM should put in a monthly cycle high in this monthly upcycle well above the previous one.

So, NEM should put in a monthly cycle high probably in the low 50s, which makes things very interesting because NEM has major upside resistance in the 50 area, a bit below 50 connecting the cycle highs since the prior long term cycle high at 50.28 on 12-2-03. NEM may break through that resistance area in this monthly upcycle which is obviously something to watch.