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 48.75 from 12-7 while the XAU is heading toward it's downside gap at 128.03 from 1-3. NEM has a downside gap to fill at 48.75 from 12-7, and, the XAU has downside gaps to fill 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 neutral right now versus the XAU, was a very bearish -1.06% yesterday, and was an extremely bearish -6.12% last week. XAU Implied Volatility rose +4.09% to 36.040 on Monday 3-6 from 34.625 on Friday 3-3 versus a -3.34% decline in the XAU on 3-6, which is a significant (0.50-1.99%) +0.75% rise in fear (+4.09% + -3.34% = +0.75%. The XAU wall of worry grew by +0.75%, therefore fear rose by +0.75%) that portends strength/an uptrend during part of Tuesday 3-7's session. The XAU Put/Call Ratio (March Expiration) fell a very sharp (3-6%) 3.32% today to 0.78982 from 0.81697 on Monday, which is a very sharp rise in complacency that portends some weakness today, and the recent collapse in the XAU Put/Call ratio from above 1.30000 on 2-17 (final February value) correctly suggested that a substantial decline would soon occur. The Fed spiked the index fund trader punch modestly this week, but the cycles are so weak now that it has had a very muted effect: http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE ...................... http://www.JoeFRocks.com/