Wave C Short Term Downcycle Appears To Have Begun

The apocalyptic parabolic Wave C has probably begun for HUI/NEM/XAU, though the Fed massively spiked the index fund trader punch today as they always seem to do on Thursdays, with $21 Billion in Repos http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE , so a test of yesterday's likely Wave B short term cycle highs is possible and NEM has already approached yesterday's cycle high. The XAU Put/Call Ratio continues to dramatically collapse, which is a major negative for those that think the lows are already in, as is the massive insider selling by NEM execs in early February. The XAU Put/Call Ratio fell to 0.88985 from 0.93441 yesterday which correctly portended some weakness today, and, was at a much higher 1.30761 for the final February expiration last Friday, which is a dramatic collapse in the XAU wall of worry that points to substantial weakness soon. The 5 Yahoo chart is a highly useful tool I use to gauge short term and also longer cycles near important turning points: http://finance.yahoo.com/q/ta?s=%5Exau&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c= In the next week or two HUI, NEM, and the XAU are likely to fall about -15% to 255-265, 47-49, and 117-122. http://www.JoeFRocks.com/