.......Backtested Federal Reserve Bank Credit Some

Federal Reserve Bank Credit contracted substantially in mid to late August when gold/silver stocks corrected (minor int term downcycle) and increased substantially during September's minor int term upcycle. The largest changes are shown below. See http://www.federalreserve.gov/releases/h41/ for all releases. Looks like Federal Reserve Bank Credit is going to be a great lead indicator. Follow the money!

Federal Reserve Bank Credit - $7,447 Million or -$7.447 Billion in the week ending 8-10-05 foretold a correction in the second half of August.

Federal Reserve Bank Credit + $6,375 Million or +$6.375 Billion in the week ending 8-31-05 foretold a rally (minor int term upcycle) in September that began very late in August.