.....................This Is The Headfake Rally

In the XAU's 3 month chart (see http://finance.yahoo.com/q/ta?s=%5EXAU&t=3m&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c=) one can see that an Elliot Wave ABC down up down pattern occurred from 8-9's monthly cycle high until Friday's cycle low. Today's bar isn't shown, but the headfake rally 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=), probably won't be a multiweek monthly upcycle, and, might even peak today and end up being a one session wonder.

I expect 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) to bottom 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/