Monthly Cycle Low May Have Occurred Early Today

Thanks to a firm S & P 500 (SPX) (which led to index fund buying) HUI/NEM/XAU rebounded after early weakness, 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. A monthly cycle low may have occurred early today, but the bearish NEM Lead Indicator at -0.50% vs the XAU right now doesn't provide a lot of confidence. If a 2% follow through buy signal (after breaking the monthly downcycle (since 7-12) trendline) occurs in the next few days that will reliably indicate that a monthly cycle low occurred today. Also, if a successful retest of today's HUI/NEM/XAU cycle lows occurs that usually indicates that the lows are in.

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/