NEM's Very Flat Uptrend Most Of The Session With An Intraday Double Top

After the very early spike move NEM's uptrend was very flat with a cycle high early on at 52.06 and late cycle high at 52.09 for a bearish double top. Also, the fact that NEM's intraday uptrend was much flatter than HUI or the XAU's indicate's it's probably leading to the downside (bearish NEM Lead Indicator) and should fill it's downside gap at 50.45 in the next day or two.

VIX, the SPX Volatility Index, has collapsed by over 8% the past two days versus modest strength in SPX, which points to a sharp drop soon. Ciao