The Very Bearish One Year NEM Lead Indicator Chart
The one year NEM Lead Indicator chart is very bearish, similar to the way it was in May when the Wave 1 Cyclical Bull Market for HUI/XAU ended and a vicious decline occurred from 5-11-06 until 6-13-06, and, similar to the way it was in September when another vicious decline began on 9-6-06 for HUI/XAU, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=1y&l=off&z=m&q=l&p=&a=&c=%5Ehui,nem.
The past sixteen weeks the NEM Lead Indicator is a very bearish -16.80% versus the XAU. So, another substantial decline will probably occur in the near future, in which the XAU is likely to fall to 100-110 and Wave A of it's Cyclical Bear Market since 5-11-06 bottoms.
The XAU's Secular Bull Market/very long term upcycle trendline is currently at 85-90ish (see second chart at http://www.joefrocks.com/GoldStockCharts.html), so, please keep that in mind. Therefore, the XAU is still 30-35 points above it's primary Secular Bull Market/very long term upcycle (since October 2000) trendline, which is about 25-30%! ....... http://www.JoeFRocks.com/
HUI NEM XAU
The past sixteen weeks the NEM Lead Indicator is a very bearish -16.80% versus the XAU. So, another substantial decline will probably occur in the near future, in which the XAU is likely to fall to 100-110 and Wave A of it's Cyclical Bear Market since 5-11-06 bottoms.
The XAU's Secular Bull Market/very long term upcycle trendline is currently at 85-90ish (see second chart at http://www.joefrocks.com/GoldStockCharts.html), so, please keep that in mind. Therefore, the XAU is still 30-35 points above it's primary Secular Bull Market/very long term upcycle (since October 2000) trendline, which is about 25-30%! ....... http://www.JoeFRocks.com/
HUI NEM XAU
posted by Joe Ferrazzano at
7:27 AM
