...........Dramatic Spikes Occur Near Important Cycle Highs

Dramatic spikes tend to mark important cycle highs, so the 4-5% spikes today by HUI, NEM, and the XAU may mean that the minor intermediate term upcycle since 10-20-05 for HUI/XAU and since 11-4-05 for NEM is finally peaking. Also, the XAU filled it's upside gap created Friday and note that the NEM Lead Indicator was a clearly bullish +0.64% on Friday. SPX has reversed course dramatically and turned down so we can expect HUI, NEM, and the XAU to do so as well soon. Ciao