The NEM Lead Indicator Was a Very Bearish -1.55% Vs the XAU Today

So, downside gap filling action is likely the next few days and the major upcycle's (since 5-16-05) Elliot Wave 4 correction may have finally begun, which will catch a lot of people off guard. There will be a lot of talk about a major top, which should be wrong, because Elliot Wave 5 and a 400-450 HUI (long term cycle high) should lie ahead in about 6 to 9 months. I'll probably revise the long term cycle high target ranges upward because HUI nearly reached 350 today.