.....................Gap Filling Action And Elliot Wave

12-7's downside gaps at 255.82 for HUI, at 48.75 for NEM, and at 119.69 for the XAU will probably get filled in the next few days. If Monday's cycle highs were monthly cycle highs, as appears likely, then this decline is Elliot Wave A down of the monthly downcycle that should be followed by a very sharp rebound, which will be Elliot Wave B up culminating with a short term cycle high such that the monthly downcycle's declining peaks downtrend line is relatively flat. Then the final Elliot Wave C plunge should occur which will be the steep/parabolic part of the monthly downcycle. Ciao