Probably Wave C Down Of The Cyclical Bear's Wave A Down

Double tops for HUI/XAU occurred at 353.50 on 7-12-06/354.16 on 8-23-06 for HUI, and, the XAU put in a rare perfect double top cycle high at 150.70 on 7-12-06 and 8-23-06 (see http://finance.yahoo.com/q/ta?s=%5EXAU&t=6m&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c==). Wave C down of 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) probably began after last Wednesday 8-23-06's double tops. A dramatic decline is likely the next few weeks, with the XAU hitting 100-110.

The past ten weeks and one day the NEM Lead Indicator is a very bearish -9.81% vs the XAU. 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/