XAU Implied Volatility Implies Some Weakness On Tuesday

XAU Implied Volatility fell -1.02% to 33.480 on Friday 9-1 from 33.825 on 8-31 versus a +0.52% rise in the XAU on 9-1, which is a significant (0.50-1.99%) +0.50% rise in complacency (-1.02% decline in XAU Implied Volatility + +0.52% rise in the XAU on 9-1 = -0.50% decline in the XAU wall of worry = +0.50% rise in complacency) that portends some weakness on Tuesday (Monday is the Labor Day Holiday). Combined with a very negative picture cyclewise (see previous posts) and a very negative NEM Lead Indicator the past two days (-0.60% vs the XAU on Friday and -1.90% vs the XAU on Thursday) and the past eleven weeks (-12.89% vs the XAU) serious caution is in order. ....... http://www.JoeFRocks.com/