Yesterday's Upside Gaps Got Filled As Expected
NEM and the XAU filled upside gaps created at yesterday's open at 52.15 and 142.60 early today.
HUI/XAU's Wave 2 down of Wave B bottomed yesterday, so Wave B's Wave 3 up began yesterday for HUI/XAU.Wave B up began on Monday 5-22 for HUI/XAU, with the XAU's cycle low on Monday 5-22 at 133.17 forming a near perfect double bottom with Wednesday 5-24's cycle low at 133.19, and, HUI also has a double bottom. For recent action see 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.
Notice how closely the XAU tracked SPX (S & P 500) recently: http://finance.yahoo.com/q/ta?t=5d&s=%5EXAU&l=off&z=m&q=c&a=m26-12-9&a=p12&a=fs&a=w14&c=&c=%5EGSPC.
The NEM Lead Indicator is a bullish +1.00% vs the XAU right now, was a modestly bearish -0.28% vs the XAU on 6-1, was a slightly bearish -0.08% vs the XAU on 5-31, was a slightly bearish -0.21% vs the XAU on 5-30, was a slightly bullish +0.10% on 5-26, was a bullish +0.29% on 5-25, was a bullish +0.79% vs the XAU on 5-24, a bearish -1.04% on on 5-23, and, was a combined bullish +1.20% the prior two sessions.
The XAU has downside gaps at 135.54 from 5-25 and at 130.03 from 3-24 that shouldn't get filled until Wave C. NEM has a downside gap at 49.53 from 5-25. ....... http://www.JoeFRocks.com/
HUI/XAU's Wave 2 down of Wave B bottomed yesterday, so Wave B's Wave 3 up began yesterday for HUI/XAU.Wave B up began on Monday 5-22 for HUI/XAU, with the XAU's cycle low on Monday 5-22 at 133.17 forming a near perfect double bottom with Wednesday 5-24's cycle low at 133.19, and, HUI also has a double bottom. For recent action see 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.
Notice how closely the XAU tracked SPX (S & P 500) recently: http://finance.yahoo.com/q/ta?t=5d&s=%5EXAU&l=off&z=m&q=c&a=m26-12-9&a=p12&a=fs&a=w14&c=&c=%5EGSPC.
The NEM Lead Indicator is a bullish +1.00% vs the XAU right now, was a modestly bearish -0.28% vs the XAU on 6-1, was a slightly bearish -0.08% vs the XAU on 5-31, was a slightly bearish -0.21% vs the XAU on 5-30, was a slightly bullish +0.10% on 5-26, was a bullish +0.29% on 5-25, was a bullish +0.79% vs the XAU on 5-24, a bearish -1.04% on on 5-23, and, was a combined bullish +1.20% the prior two sessions.
The XAU has downside gaps at 135.54 from 5-25 and at 130.03 from 3-24 that shouldn't get filled until Wave C. NEM has a downside gap at 49.53 from 5-25. ....... http://www.JoeFRocks.com/
posted by Joe Ferrazzano at
7:27 AM
