Firm SPX (S & P 500) Early On Led To A Firm HUI/NEM/XAU

Early on due to index fund buying. The Fed spiked the punch yesterday as they always do on Thursday with $16.25 Billion in Repos and they added a large $10 Billion 4 day Repo today, see http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE. The monthly upcycle's (since 7-24) Wave 2 down is probably doing an Elliot Wave ABC down up down pattern with yesterday being Wave A down and early on today being Wave B up. Notice how closely HUI tracked SPX (S & P 500) recently: http://finance.yahoo.com/q/ta?t=5d&s=%5EHUI&l=off&z=m&q=c&a=m26-12-9&a=p12&a=fs&a=w14&c=&c=%5EGSPC.

Tuesday 6-13 was the bottom for (probably) Wave A down of the Wave 2 Cyclical Bear Market's Wave A down, that is also probably the start of an 18-24 month Cyclical Bear Market, so it wasn't really a correction because it's probably the start of an 18-24 month downtrend/Wave 2 Cyclical Bear Market for HUI/XAU. 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=%5Ehui. ....... http://www.JoeFRocks.com/