NEM Lead Indicator = -1.45% Versus The XAU Right Now

After gapping up and rallying very briefly the XAU has trended down most of the session so far, see http://finance.yahoo.com/q/ta?s=%5Exau&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. The NEM Lead Indicator is a very bearish -1.45% vs the XAU right now, which would scare me away from day trading long, even if CDE and SLW weren't near or at resistance, they have been in downtrends for over a week. If they can break those downtrend lines and follow through by at least 1% for at least 2 hours that will be a short term cycle buy signal, and, I may day trade them long, if the NEM Lead Indicator improves dramatically.

The NEM Lead Indicator has been positive the past four sessions at +0.05% versus the XAU yesterday, +0.28% versus the XAU on Friday, +0.59% versus the XAU on Thursday, and +0.69% versus the XAU on Wednesday. For recent action see http://finance.yahoo.com/q/ta?s=%5Exau&t=5d&l=off&z=l&q=b&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. ....... http://www.JoeFRocks.com/