NEM Underperformed The XAU Today By -0.25%

Which portends weakness in HUI and the XAU tomorrow as does the fact that VIX, the S & P 500 (SPX) Volatility Index (gauge of SPX options implied volatility), fell -2.34% today vs a slight decline in SPX which is a sharp rise in complacency that points to weakness in SPX and therefore most indexes tomorrow, as well as SPX component NEM. Also, the Fed has stopped spiking the punch the past 3 days and removed it altogether today.

Major intermediate term upcycle (since 5-16-05) Elliot Wave 3 minor int term cycle highs probably occurred yesterday for HUI, NEM, and the XAU, which means that a 15-25% correction is likely in the next 2-4 weeks which is the major upcycle's Elliot Wave 4 down. Buckle up!