The NEM Lead Indicator Is A Very Bearish -1.30% Versus The XAU Right Now

The NEM Lead Indicator is a very bearish -1.30% versus the XAU right now. The expected bounce obviously occurred, but after much less than expected early weakness, 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==. HUI, NEM, and the XAU all took out their recent Wave B (began on 1-10-07) cycle highs thanks to massive Fed punch spiking today and in recent weeks, but, today's large spike move is the hallmark of important cycle highs (looks like a blowoff spike/sucker's rally), so, the countertrend Wave B that began on 1-10-07 MAY finally peak today.

HUI/XAU's Wave 2 Cyclical Bear Market began 5-11-06, see charts 7 and 9 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 5-6 yearish Wave 3 Cyclical Bull Market since 10-4-06, see chart 8 at http://www.joefrocks.com/GoldStockCharts.html. ....... http://www.JoeFRocks.com/ .

HUI NEM XAU