A Volatility Spike Occurred On Friday

The high volatility on Friday (see 5 day HUI chart, http://finance.yahoo.com/q/bc?t=5d&l=on&z=m&q=l&p=&a=&c=&s=%5Ehui ) is a sharp volatility spike that has a high correlation with fear, and, assuming that a monthly upcycle remains in effect (cycles being the most important consideration), portends substantial near term strength.