The XAU Filled It's Downside Gap At 114.29

NEM should soon fill it's downside gap at 46.05, then the question is how much more downside to this short term downcycle, given that NEM is modestly outperforming the XAU today as I write this and was bullish yesterday at +0.35%. Probably not much, but, given the dramatic spike move that occurred, this may be a sharper short term downcycle/correction than expected. Spike moves usually give back about half their gains, though that probably won't occur this time, a sharp decline still may occur. Stay tuned!