The NEM Lead Indicator = +1.78% Vs The XAU Today
Which is very bullish, so, if the XAU fills the downside gap created at today's open at 141.69 early tomorrow, that should be a good trading opportunity. NEM created a downside gap at 51.67 at today's open that probably won't get filled until Wave B's Wave 4 down or later. Fed Credit rose a substantial +$4.139 Billion in the Week Ending 5-31-06 and there were $16 Billion in Repos yesterday, which obviously portends strength.
Today's NEM Lead Indicator: http://finance.yahoo.com/q/ta?s=^XAU&t=1d&l=on&z=m&q=l&p=&a=&c=^hui,nem. Wave B's Wave 3 up is in effect. See 5 day XAU chart: http://finance.yahoo.com/q/ta?t=5d&l=off&z=m&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=&s=%5Exau. ....... http://www.JoeFRocks.com/
Today's NEM Lead Indicator: http://finance.yahoo.com/q/ta?s=^XAU&t=1d&l=on&z=m&q=l&p=&a=&c=^hui,nem. Wave B's Wave 3 up is in effect. See 5 day XAU chart: http://finance.yahoo.com/q/ta?t=5d&l=off&z=m&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=&s=%5Exau. ....... http://www.JoeFRocks.com/
posted by Joe Ferrazzano at
1:19 PM
