NEM Filled It's Downside Gap At 60.91 From 1-31

And NEM outperformed the XAU by +0.43% today, but after underperforming by a very wide margin of -1.55% yesterday, NEM was likely to outperform today. Today's early sharp decline where NEM fell to 60.45 triggered a parabolic 2% follow through monthly cycle sell signal (the monthly upcycle's trendline had become nearly vertical yesterday). NEM's very sharp -3.59% decline from yesterday's likely monthly and Elliot Wave 3 minor int term cycle high at 62.70ish to today's early cycle low at 60.45 triggered the parabolic 2% follow through monthly cycle sell signal. NEM's sharp rebound after hitting 60.45 was probably the major upcycle's (since 5-16-05) Wave 4 minor int term downcycle beginning relatively flat. The Fed has provided below average credit the past two days, so it appears that yesterday's cycle highs will hold : http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE