...........The Major Downcycle's Wave A Lives
The major downcycle's (since 9-6 for HUI/XAU and 9-5 for reliable lead indicator NEM) wave A lives. HUI and NEM made new wave A cycle lows today, while the XAU's cycle low from last Friday barely held. The NEM Lead Indicator was a slightly bullish +0.21% vs the XAU today, which indicates that more wave A downside tomorrow won't be surprising.
The NEM Lead Indicator was a very bullish +1.03% vs the XAU yesterday. The NEM Lead Indicator was a very bearish -1.56% versus the XAU on Monday after being a bearish -0.65% versus the XAU on Friday.
The past thirteen weeks and three days the NEM Lead Indicator is a very bearish -12.56% versus the XAU. A vicious multi week decline, similar to the one that occurred from 5-11-06 until 6-13-06 for HUI/NEM/XAU, began on 9-6 for HUI/XAU and on 9-5 for reliable lead indicator NEM. Wave A of this major downcycle since 9-6 may still be in effect (may last a few more sessions). Wave B up of the major downcycle since 9-6 might last over a week, Wave B in the prior major downcycle from 5-11-06 until 6-13-06 did, then it's time for the final Wave C down and another brutal decline for HUI/XAU, in which Wave A of their Cyclical Bear Market since 5-11-06 bottoms, probably in the 100-110 range for the XAU. 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/
HUI NEM XAU
The NEM Lead Indicator was a very bullish +1.03% vs the XAU yesterday. The NEM Lead Indicator was a very bearish -1.56% versus the XAU on Monday after being a bearish -0.65% versus the XAU on Friday.
The past thirteen weeks and three days the NEM Lead Indicator is a very bearish -12.56% versus the XAU. A vicious multi week decline, similar to the one that occurred from 5-11-06 until 6-13-06 for HUI/NEM/XAU, began on 9-6 for HUI/XAU and on 9-5 for reliable lead indicator NEM. Wave A of this major downcycle since 9-6 may still be in effect (may last a few more sessions). Wave B up of the major downcycle since 9-6 might last over a week, Wave B in the prior major downcycle from 5-11-06 until 6-13-06 did, then it's time for the final Wave C down and another brutal decline for HUI/XAU, in which Wave A of their Cyclical Bear Market since 5-11-06 bottoms, probably in the 100-110 range for the XAU. 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/
HUI NEM XAU
posted by Joe Ferrazzano at
1:52 PM
