Probably Wave B Up Of The Cyclical Bear Market's Wave A Down

The monthly upcycle since 6-13 is probably Wave B up of the Wave 2 Cyclical Bear Market's (HUI/XAU since 5-11-06) Wave A down, so, I expect lower cycle lows in the near future than those that occurred on 6-13. It looks like NEM may fill an upside gap at 56.31 from 5-15 and the XAU may fill an upside gap at 159.41 from 5-15 before the monthly upcycle peaks. Sometimes Wave 5 can have two short term cycles with the monthly cycle high occurring as the monthly cycle rolls over (the peaks flatten out).

Today's SPX strength after early weakness was a major factor behind HUI, NEM, and the XAU's strength. Index fund trading is a huge factor that most are unaware of. 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/