The Major Upcycle Wave 4's Wave C Short Term Downcycle

Is in effect, which is the parabolic/sharply declining part of Wave 4, so buckle up! NEM is heading for it's downside gap at 51.59 from 12-28 while the XAU is heading toward it's downside gap at 133.35 from 3-1. NEM has downside gaps to fill at 51.59 from 12-28, at 50.45 from 12-22, and at 48.75 from 12-7, and, the XAU has downside gaps to fill at 133.35 from 3-1, at 128.03 from 1-3, at 124.36 from 12-28, and at 122.49 from 12-22. Shortly after NEM fills it's downside gap at 48.75 from 12-7 and the XAU fills it's downside gap at 122.49 from 12-22 Wave 4 should bottom. Based on that and the latest major upcycle trendlines (see latest 1 year charts, http://www.joefrocks.com/GoldStockCharts.html ) my Wave 4 cycle low target ranges are 255-265 for HUI, 47-49 for NEM, and 117-122 for the XAU. The NEM Lead Indicator is a bearish -0.70% right now versus the XAU and was an extremely bearish -6.12% last week. XAU Implied Volatility fell -1.13% to 34.625 on Friday 3-3 from 35.020 on 3-2 versus a -1.40% decline in the XAU on 3-3, which is a sharp (2-2.99%) +2.53% rise in complacency (-1.13% + -1.40% = -2.53%. The XAU wall of worry shrank by -2.53%, therefore complacency rose by +2.53%) that portends weakness/a downtrend during part of Monday 3-6's session. The XAU Put/Call Ratio (March Expiration) rose a very sharp (3-6%) 3.90% today to 0.81697 from 0.78629 on Friday, which is a very sharp rise in fear that portends some strength today, but the recent collapse in the XAU Put/Call ratio from above 1.30000 on 2-17 (final February value) suggests that a substantial decline is likely soon. The Fed spiked the index fund trader punch some today with a $8.75 Billion Repo, but the cycles are so weak now that it should have a muted effect: http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE ...................... http://www.JoeFRocks.com/