...............What $23 Billion In Repos Can Do

The $23 Billion In Repos yesterday led to a very sharp rally ( see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=m&q=b&p=&a=,fs,w14&c= ) where HUI/XAU significantly exceeded 1-17's cycle highs, but, they may have finally put in Elliot Wave 3 minor int term cycle highs today or are about to, and NEM did so on 1-17. The upside surprise was courtesy of the Fed, so, to the extent that they control the short term cycles of the stock market by providing index fund traders with short term trading loans, there's no way to call tops, which is really a futile game anyway.

1-18's 2% monthly cycle sell signal did correctly indicate that there was too much risk to trade long from a monthly cycle perspective.

NEM outperformed the XAU by +0.23% today, so some strength is likely on Monday. http://www.JoeFRocks.com/