Reliable Lead Indicator NEM Is Approaching A 5% Decline Since It's Monthly Cycle High
Reliable lead indicator NEM is approaching a 5% decline since it's monthly cycle high at 46.89 on 11-1, so, it's very likely that the monthly cycle highs are in for NEM and for HUI/XAU (on Monday).
Rummy's been given the boot and the major spanking the Republicans got in yesterday's important mid term election is a breath of fresh air. Let's hope a lot of good comes out of it. The Iraq War was unnecessary and is obviously a very costly fiasco. It was basically about oil, the US Dollar (Saddam was switching to Euros), and revenge, because Saddam wanted to (tried to?) kill President Bush senior.
HUI/XAU's Wave 2 Cyclical Bear Market began 5-11-06, see charts 3 and 5 at http://www.joefrocks.com/GoldStockCharts.html. 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 4 at http://www.joefrocks.com/GoldStockCharts.html. ....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Rummy's been given the boot and the major spanking the Republicans got in yesterday's important mid term election is a breath of fresh air. Let's hope a lot of good comes out of it. The Iraq War was unnecessary and is obviously a very costly fiasco. It was basically about oil, the US Dollar (Saddam was switching to Euros), and revenge, because Saddam wanted to (tried to?) kill President Bush senior.
HUI/XAU's Wave 2 Cyclical Bear Market began 5-11-06, see charts 3 and 5 at http://www.joefrocks.com/GoldStockCharts.html. 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 4 at http://www.joefrocks.com/GoldStockCharts.html. ....... http://www.JoeFRocks.com/ .
HUI NEM XAU
posted by Joe Ferrazzano at
11:24 AM
