Today Was The Flat Part Of The Short Term Downcycle

After hitting a Wave 5 short term cycle high shortly after the open, HUI/NEM/XAU had a relatively flat declining peaks downtrend today (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==), which suggests that there will be a sharp decline early tomorrow.

HUI/NEM/XAU plunged early today, which was probably Wave A down of the short term downcycle's Wave A down (might be Wave A down of a monthly downcycle), then did Wave B up during mid session, and, were in Wave C toward session's end, which points to an early plunge tomorrow. After that plunge, which will complete Wave A down of the short term downcycle, some strength is likely because it'll be Wave B up of the short term downcycle, which jives with the bullish NEM Lead Indicator today at +0.54% versus the XAU, which portends some strength tomorrow.

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 probably 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