NEM Lead Indicator = Bullish +0.59% Versus The XAU Today

The NEM Lead Indicator = Bullish +0.69% versus the XAU yesterday. So, the NEM Lead Indicator has turned bullish the past two days and the Fed spiked the index fund trader punch as they nearly always do on Thursdays, see http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE. Also, NEM buy interest by the non contrarian institutional investors/traders has been strong in recent days, with relatively little sell interest, see http://thomson.finance.lycos.com/lycos/iwatch/cgi-bin/iw_ticker?t=NEM&range=7&mgp=0&i=3&hdate=&x=11&y=5. So, there may be a respectable Wave 5 short term upcycle the next few sessions, but I probably won't trade it long other than maybe a day trade or two, given all the negatives I've discussed in recent days.

Another big negative is the news regarding the foiled terror plot. If an attack does occur it could whack the S & P 500 (SPX) and probably also HUI, NEM, and the XAU due to index fund selling.

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/