Federal Reserve Bank Credit Fell By -$4.476 Billion The Week Ending 1-25-06

Which means that HUI, NEM, and the XAU are likely to be very weak the next few days. HUI/XAU may have finally hit major upcycle (since 5-16-05) Elliot Wave 3 minor int term cycle highs today, while NEM probably did so on 1-17-06, leading to the downside as usual.

(Federal Reserve Bank Credit for the week ending 1-25 fell -$4.476 Billion, see http://www.federalreserve.gov/releases/h41/Current/ )

NEM missed it's upside gap by 3 Cents, peaking at 58.82 late in the session and closed at 58.74. NEM obviously may fill it's upside gap at 58.85 (from 1-18) early tomorrow.

NEM underperformed the XAU by -0.27% today, so weakness is likely tomorrow, and reliable lead indicator NEM had a relatively flat uptrend the past two days. http://www.JoeFRocks.com/