The NEM Lead Indicator = +0.33% Vs The XAU Today
The NEM Lead Indicator = +0.33% vs the XAU today, was a very bearish -1.06% vs the XAU yesterday after being an extremely bearish -6.12% last week. NEM nearly fell into it's Wave 4 cycle low target range of 47-49 today with a cycle low at 49.20. NEM will probably continue to outperform the XAU as HUI and the XAU probably plunge the next few days. 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.............See 5 day XAU chart for today's/recent 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/
posted by Joe Ferrazzano at
1:13 PM
3 Comments:
Blogger's robot thinks this might be a spam Blog, so I can't post right now. Obviously HUI/NEM/XAU are doing what I expected them to do today. NEM has filled it's downside gap at 48.75 and the XAU filled it's downside gap at 128.03 (I think it is). NEM fell into it's 47-49 Wave 4 cycle low target range and it looks like the XAU will soon fall into it's Wave 4 cycle low target range of 117-122. HUI still has a ways to go to hit it's Wave 4 cycle low target range of 255-265. NEM is outperforming the XAU by a wide margin of about +0.75% right now and turned positive yesterday at +0.33%. Ciao!
By
Joe Ferrazzano, at 8:58 AM
Previous comment was on March 8 of course.
By
Joe Ferrazzano, at 9:00 AM
Trade the Cycles will move for now to my other Blog at http://masteryourdomains.blogspot.com/ Also, check my main site http://www.JoeFRocks.com/ or http://masteryourdomains.blogspot.com/ for the link to my new Trade the Cycles Blog, because I'll be getting a non Blogger Blog if Blogger cans this Blog (which would be absurd). The NEM Lead Indicator is very bearish right now (3-9 at 12:10 EST) at about -1.35% versus the XAU, so HUI/NEM/XAU are probably heading for a test of yesterday's cycle lows.
By
Joe Ferrazzano, at 9:18 AM
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