Reliable Lead Indicator NEM May Have Entered Wave B

Based on price action and the very high volume (probably a whole lot of short coverin goin on), reliable lead indicator NEM MAY (key word) have entered the wave B short term upcycle today (of it's major correction since 9-5), which would mean that it's wave A cycle low was/might be 43.58, that occurred shortly after today's open. The fact that NEM is only slightly outperforming the XAU right now (by about +0.10%) casts doubt on the possibility that NEM has entered the wave B short term upcycle however.
....... http://www.JoeFRocks.com/

NEM XAU