...............Intraday NEM Elliot Wave Count

About 20 minutes into the session reliable lead indicator NEM spiked to a cycle high so far at 43.31, then did what was probably a Wave A down to 42.52, and, in Wave C NEM may fill today's downside gap at 42.21 and last Friday's downside gap at 41.83, see http://finance.yahoo.com/q/ta?s=nem&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c==. If NEM exceeds 43.31 in this current intraday upcycle since 42.52, then today's downside gap at 42.21 and last Friday's downside gap at 41.83 are breakaway gaps that won't get filled short term, and, HUI/NEM/XAU are in the Wave 5 short term upcycle of the monthly upcycle since 10-4-06.

For recent XAU 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