The NEM Lead Indicator Was a Very Bullish +1.03% Vs The XAU Today

HUI and NEM took out Friday's cycle lows, but, the XAU's Friday cycle low held today. HUI/NEM/XAU could be doing a double bottom cycle low for wave A down of their major correction since 9-6 for HUI/XAU and since 9-5 for reliable lead indicator NEM. Today's very bullish NEM Lead Indicator at +1.03% vs the XAU suggests that's a likely scenario. The NEM Lead Indicator was a very bearish -1.56% versus the XAU yesterday after being a bearish -0.65% versus the XAU on Friday.

The past thirteen weeks and two days the NEM Lead Indicator is a very bearish -12.77% 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 correction since 9-6 may still be in effect (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 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