HUI/NEM/XAU Appear To Have Hit A Wave 5 Short Term Cycle High

HUI/NEM/XAU appear to have hit a Wave 5 short term cycle high (began on Monday for HUI/XAU and 10-18 for NEM), since they've put in lower intraday cycle highs, which establishs that a short term downcycle is in effect, which might be Wave A down of the monthly cycle that began on 10-4-06, 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=.

The monthly cycle since 10-4-06 is the start of the 3-6 monthish Wave B up of HUI/XAU's Wave 2 Cyclical Bear Market since 5-11-06. NEM's Wave 2 Cyclical Bear Market that began on 1-31-06 ended on 10-4-06 at 39.84, so, reliable lead indicator NEM is in a 5 yearish Wave 3 Cyclical Bull Market since 10-4-06, see chart 3 at http://www.joefrocks.com/GoldStockCharts.html.

....... http://www.JoeFRocks.com/

HUI NEM XAU