Trade the Cycles

Friday, August 04, 2006

XAU Wave 3 Short Term Upcycle Peaked Today

The XAU made a slightly higher cycle high today than Wednesday's (http://finance.yahoo.com/q/ta?s=%5Exau&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=), so, it's Wave 3 Short Term Upcycle peaked today versus Wednesday for HUI. Since HUI appears to be doing an Elliot Wave ABC down up down pattern in (this monthly upcycle's) Wave 4 down (http://finance.yahoo.com/q/ta?s=%5Ehui&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=), it looks like Wave 4 may bottom today and therefore a short term cycle low may occur today. HUI has an ABC pattern that bottomed yesterday, so, it may have put in a Wave 4 short term cycle low (start of Wave 5 short term upcycle) yesterday. ....... http://www.JoeFRocks.com/