................Short Term Elliot Wave Patterns

Notice in the XAU's 5 day chart, 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=, that it did an Elliot Wave 12345 upcycle pattern since Tuesday's short term cycle low, with three very short term upcycles corresponding to Waves 1, 3, and 5, and, two very short term downcycles corresponding to Waves 2 and 4.

The flatness after Tuesday's short term cycle low was a sign that a short term cycle low had in fact occurred. Another interesting thing is that HUI and the XAU did an Elliot Wave ABC down up down downcycle pattern from 8-23's short term cycle high until Tuesday's short term cycle low. So, the ABC pattern and the flatness after Tuesday's short term cycle low were signs that a short term cycle low had occurred. Next time hopefully I'll catch it in real time. ....... http://www.JoeFRocks.com/