Federal Reserve Bank Credit Grew By A Hefty +$6.393 Billion Week Ending 1-4-06

I'm in no rush to get my shorts on (buy more XAU Puts) based on the latest Federal Reserve Bank Credit, which drives index fund/futures/options trading, which in turn drives many sectors including gold/silver stocks, and, I may look to day trade XAU Call Options long. It does look like the minor int term upcycle since 10-20-05 for HUI/XAU and since 11-4-05 for SPX component NEM finally peaked yesterday, and, NEM underperformed the XAU by a modestly bearish -0.24% today which points to more weakness tomorrow, but the hefty rise in Federal Reserve Bank Credit indicates that index fund buying should result in a very sharp rally soon and possibly a test of yesterday's cycle highs. An Elliot Wave A, B, C down, up, down, minor int term downcycle pattern is likely once the minor int term downcycle begins (it may have yesterday).

Federal Reserve Bank Credit + $6,393 Million = +$6.393 Billion Week Ending 1-4-06

http://www.federalreserve.gov/releases/h41/Current/