Very Brief Spike After The Open Followed By Weakness

While it turned out that there was some upside surprise early today, the strength was a very brief spike after the open followed by weakness. The NEM Lead Indicator is a very bearish -1.56% vs the XAU right now, which indicates that the bearish conclusion reached in my previous post yesterday was the correct one.

For recent action, 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. Watch the XAU's downside gap at 140.77 from 8-21, which will probably get filled this week or early next week. ....... http://www.JoeFRocks.com/