The XAU Wants to Fill It's Upside Gap at 159.41 From 5-15

I'm saying that but the upside gap at 159.41 from 5-15 looks like a breakaway gap, because it's a large gap, which, if so would mean that it won't get filled until later on, in Wave B up of this likely Wave 2 Cyclical Bear Market or even the Wave 3 Cyclical Bull Market much later on (a few years from now). Really what I'm saying is that the XAU will probably attempt to fill that upside gap, but, there's a good chance that it won't short term.

I'm assuming that a healthy Wave 5 short term upcycle will occur, but only a very small % of traders should be trading long right now and even then with relatively modest positions. The negative NEM Lead Indicator at -0.86% versus the XAU last week and at -4.31% the week before (-0.50% yesterday) is one strong indication that risk is high right now, but the main reason is that NEM probably began an 18 monthish Wave 2 Cyclical Bear Market on 1-31-06 and HUI/XAU probably did so on 5-11-06.

After this minor intermediate term upcycle since 6-13 peaks I expect lower lows to occur than those that occurred on 6-13. The Monthly Upcycle began early on Monday 7-24 and a 2% buy signal occurred on Tuesday 7-25. ....... http://www.JoeFRocks.com/