HUI/XAU Rolling Over The Past Two Months

HUI and the XAU have made little progress the past two months, see http://finance.yahoo.com/q/ta?s=%5Exau&t=3m&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=. After the vicious decline from May 11's Cyclical Bull Market cycle highs to the June 13 monthly cycle lows there was a healthy monthly upcycle for a few weeks, but, since early July HUI and the XAU have made very little progress and the XAU has made no progress since July 12, all it managed to do was put in a perfect double top at 150.70 on August 23.

A short term cycle high probably occurred today for HUI/XAU (yesterday for reliable lead indicator NEM), see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=b&p=&a=m26-12-9,p12,fs,w14&c=. Also, HUI appears to have put in a triple top today at 354.86 versus 353.50 on 7-12 and 354.16 on 8-23. The XAU put in a perfect double top at 150.70 on 7-12 and 8-23 2006.

The next few weeks are likely to be brutal because the Cyclical Bear's (since 5-11-06 for HUI/XAU and since 1-31-06 for reliable lead indicator NEM) Wave A down probably entered the parabolic Wave C down after today's likely HUI triple top occurred. ....... http://www.JoeFRocks.com/