.........The Monthly Upcycle Appears To Be Toast
Probably peaked yesterday for HUI/NEM/XAU. The XAU filled downside gaps at at 158.90 from 5-2 and at 158.11 from 5-1 today, and, NEM filled it's downside gap at 56.72 from 4-28 today. The NEM Lead Indicator is a very bearish -1.00% vs the XAU right now.
The XAU has downside gaps at 152.05 from 4-28, at 150.16 from 4-21, at 151.71 from 4-18, at 145.47 from 4-17, at 141.35 from 4-12, at 138.84 from 3-30, at 134.17 from 3-29, at Monday 3-27's open at 133.40 and one at 3-24's open at 130.03, and, NEM has downside gaps at 55.42 from 4-21, at 52.87 from 4-17, at 51.46 from 4-12, at 49.46 from 3-27, and at 49.24 from 3-24, some and maybe all of which will get filled in this monthly downcycle. ....... http://www.JoeFRocks.com/
The XAU has downside gaps at 152.05 from 4-28, at 150.16 from 4-21, at 151.71 from 4-18, at 145.47 from 4-17, at 141.35 from 4-12, at 138.84 from 3-30, at 134.17 from 3-29, at Monday 3-27's open at 133.40 and one at 3-24's open at 130.03, and, NEM has downside gaps at 55.42 from 4-21, at 52.87 from 4-17, at 51.46 from 4-12, at 49.46 from 3-27, and at 49.24 from 3-24, some and maybe all of which will get filled in this monthly downcycle. ....... http://www.JoeFRocks.com/
posted by Joe Ferrazzano at
10:01 AM
