NEM Filled It's Downside Gap At 56.97 From 1-25

And the XAU filled it's downside gap at 141.29 from 1-25. As I've said before the bigger the spike the larger and faster the subsequent selloff/plunge tends to be, so today is no big surprise, given the monster Wave 3 spike in recent months that was partly due to the Fed's massive lending to index fund traders. NEM underperformed the XAU yesterday by a very bearish -1.30% which indicated that a very sharp decline might occur today, because the NEM Lead Indicator was very bearish. http://www.JoeFRocks.com/