The NEM Lead Indicator = -0.23% Vs The XAU Today

The major upcycle's (since 5-16-05) Wave 4 minor intermediate term downcycle since 1-31-06 should bottom in the next week or two. The extremely bearish NEM Lead Indicator this week (The NEM Lead Indicator turned very bearish on Monday at -2.26% vs the XAU, remained so on Tuesday at -1.69%, was also very bearish at -1.50% vs the XAU on Wednesday, was a bearish -0.44% vs the XAU yesterday, and a modestly bearish -0.23% vs the XAU today) points to a substantial 10-15%+ decline in the next week or so. The gold COT data points to weakness next week since the gold Commercial Traders added significantly to their short position and engaged in very modest long liquidation, while the Speculators traded net long, which also points to weakness next week. See http://www.cftc.gov/dea/options/deacmxsof.htm ............See 5 day XAU chart for this week's action: http://finance.yahoo.com/q/ta?t=5d&l=off&z=m&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=&s=%5Exau ........... http://www.JoeFRocks.com/