The NEM Lead Indicator Was A Bullish +0.43% Vs The XAU Today
The NEM Lead Indicator was a neutral +0.09% vs the XAU yesterday. The NEM Lead Indicator was a very bullish +1.60% versus the XAU on Monday 9-11. Wave A's Wave B up of the major correction since 9-6 for HUI/XAU began late yesterday, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c=. Both Wave A and Wave C of this major correction will probably have Elliot Wave ABC down up down patterns, as occurred in the prior major correction from 5-11-06 until 6-13-06 that followed the Wave 1 Cyclical Bull Market cycle highs for HUI/XAU. This Wave B of Wave A should be modest in duration and strength relative to Wave B of the major correction.
The NEM Lead Indicator was a bullish +0.84% versus the XAU on Friday 9-8, was a neutral/slightly bullish +0.08% versus the XAU on Thursday 9-7, was a very bearish -0.91% versus the XAU on Wednesday 9-6, was a very bearish -1.30% versus the XAU on Tuesday 9-5, was a bearish -0.60% versus the XAU on Friday 9-1, and, was a very bearish -1.90% versus the XAU on Thursday 8-31, see the 5 day NEM Lead Indicator chart http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=off&z=m&q=l&p=&a=&c=%5Ehui,nem.
The past twelve weeks and three days the NEM Lead Indicator is a very bearish -12.06% 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 Wednesday 9-6 for HUI/XAU and on Tuesday 9-5 for reliable lead indicator NEM. Wave A of this major correction since 9-6 is still in effect and may last a few more sessions. Wave B up of the major correction since 9-6 might last over a week, Wave B in the prior major correction from 5-11-06 until 6-13-06 did, then it's time for the final Wave C down and another brutal decline in 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. ....... http://www.JoeFRocks.com/
HUI NEM XAU
The NEM Lead Indicator was a bullish +0.84% versus the XAU on Friday 9-8, was a neutral/slightly bullish +0.08% versus the XAU on Thursday 9-7, was a very bearish -0.91% versus the XAU on Wednesday 9-6, was a very bearish -1.30% versus the XAU on Tuesday 9-5, was a bearish -0.60% versus the XAU on Friday 9-1, and, was a very bearish -1.90% versus the XAU on Thursday 8-31, see the 5 day NEM Lead Indicator chart http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=off&z=m&q=l&p=&a=&c=%5Ehui,nem.
The past twelve weeks and three days the NEM Lead Indicator is a very bearish -12.06% 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 Wednesday 9-6 for HUI/XAU and on Tuesday 9-5 for reliable lead indicator NEM. Wave A of this major correction since 9-6 is still in effect and may last a few more sessions. Wave B up of the major correction since 9-6 might last over a week, Wave B in the prior major correction from 5-11-06 until 6-13-06 did, then it's time for the final Wave C down and another brutal decline in 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. ....... http://www.JoeFRocks.com/
HUI NEM XAU
posted by Joe Ferrazzano at
1:15 PM
