.......Three Indicators Pointed To Strength Today

Fed Credit, which was a large +$10 Billion today, the XAU Put/Call Ratio and XAU Implied Volatility all pointed to strength, with the NEM Lead Indicator correctly pointing to a sharp drop early. Notice how a large Fed Credit increase once again led to strength? Without the Fed's +$10 Billion Repo I think today would have been far worse and SPX, HUI, NEM, and the XAU probably would have closed down.

NEM outperformed the XAU by a slight margin of +0.18% today which doesn't point to much upside tomorrow.

See the weekly update at http://www.joefrocks.com/TradetheCycles.html and scroll down a few pages past the major averages work to see the gold/silver stock work. See HUI and NEM's 1 year charts dated 1-20-06 that show the likely Elliot Wave points for the major upcycle since 5-16-05 and see the 3 month XAU chart dated 1-20-06. See http://www.joefrocks.com/GoldStockCharts.html for all the charts. My home page is http://www.JoeFRocks.com/ I hope you'll take the time to e mail your friends re this Blog and my site/work/system. This will help to keep my work free, because the more visitors I get the more advertising $ I make. I have a long way to go but have made significant progress in recent months. Thank you. Ciao