NEM Lead Indicator = Very Bearish -1.28% Versus The XAU Today

The NEM Lead Indicator was a very bearish -1.28% versus the XAU today, so, the headfake rally that began early on Friday (See http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c) may have peaked today or may peak tomorrow. The prior nine weeks the NEM Lead Indicator is a very bearish -9.21% vs the XAU. The past nine weeks and one day the NEM Lead Indicator is a very bearish -10.49% vs the XAU.

There shouldn't be much relief for longs until Wave A down of the Wave 2 Cyclical Bear Market (since 5-11-06 for HUI/XAU and since 1-31-06 for reliable lead indicator NEM) bottoms in the 100-110 range (XAU) in the next few weeks. 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/