The NEM Lead Indicator Was An Extremely Bearish -5.59% Versus The XAU The Past Seven Sessions
The NEM Lead Indicator = +0.42% versus the XAU on 9-7, -1.39% on 9-6, +0.06% on 9-5, -1.81% on 9-4, -0.98% on 8-31, -0.03% on 8-30, -1.86% on 8-29 = an extremely bearish -5.59% versus the XAU the past seven sessions, see six month NEM Lead Indicator at http://finance.yahoo.com/q/ta?s=%5EXAU&t=6m&l=off&z=l&q=l&p=&a=&c=%5Ehui,nem.
Gold's Wave B of it's Wave 2 Cyclical Bear Market since 5-11-06 surprised to the upside last week, see http://stockcharts.com/charts/gallery.html?$GOLD, taking out April's cycle high at $698 that appeared to be the Wave B cycle high. Last week's huge spike move is typical of what happens near very important cycle highs, and, Wave B may have peaked on Friday at $716.60 or should do so early this week. The large spike on Friday's candle indicates that $716.60 may be the Wave B cycle high of the Wave 2 Cyclical Bear Market since 5-11-06 versus the Wave 1 Cyclical Bull Market cycle high that occurred at $730.40.
Most of the amateur wannabe gold analysts (some were just born into rich families and are pretending to be gold "gurus") have led and continue to lead most people to a financial disaster. There are far too many dingbats pretending to be gold analysts/timers in the gold/silver sector.
Wave A bottomed at $542.27 in June 2006 and the Wave 1 Cyclical Bull Market cycle high occurred at $730.40, see http://stockcharts.com/charts/gallery.html?$GOLD. From April 2007 until today gold has managed to rise a little over 2% in about five months, which is obviously not a Bull Market uptrend. Only a gold "guru" would think that's a Bull Market.
As a long term multi-year investor in any stock, commodity, etc. you want to buy near the primary multi-year Secular Bull Market/very long term upcycle trendline. Gold's primary multi-year Secular Bull Market/very long term upcycle trendline is at $475ish right now, so, gold would be a great buy in the $475-500 range. When the vast majority of gold writers say it's a great time to buy or are bullish, as they almost always are, it's rarely a good time for long term investors to buy.
HUI/XAU's Wave 2 Cyclical Bear Market began 5-11-06, see charts 7 and 9 at http://www.joefrocks.com/GoldStockCharts.html. The primary Secular Bull Market trendlines since late 2000 are at 200-220 for HUI and at 85-90 for the XAU. Those are the targets for where the Cyclical Bear Market will bottom. NEM's Wave 2 Cyclical Bear Market began on 1-31-06. ....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Gold's Wave B of it's Wave 2 Cyclical Bear Market since 5-11-06 surprised to the upside last week, see http://stockcharts.com/charts/gallery.html?$GOLD, taking out April's cycle high at $698 that appeared to be the Wave B cycle high. Last week's huge spike move is typical of what happens near very important cycle highs, and, Wave B may have peaked on Friday at $716.60 or should do so early this week. The large spike on Friday's candle indicates that $716.60 may be the Wave B cycle high of the Wave 2 Cyclical Bear Market since 5-11-06 versus the Wave 1 Cyclical Bull Market cycle high that occurred at $730.40.
Most of the amateur wannabe gold analysts (some were just born into rich families and are pretending to be gold "gurus") have led and continue to lead most people to a financial disaster. There are far too many dingbats pretending to be gold analysts/timers in the gold/silver sector.
Wave A bottomed at $542.27 in June 2006 and the Wave 1 Cyclical Bull Market cycle high occurred at $730.40, see http://stockcharts.com/charts/gallery.html?$GOLD. From April 2007 until today gold has managed to rise a little over 2% in about five months, which is obviously not a Bull Market uptrend. Only a gold "guru" would think that's a Bull Market.
As a long term multi-year investor in any stock, commodity, etc. you want to buy near the primary multi-year Secular Bull Market/very long term upcycle trendline. Gold's primary multi-year Secular Bull Market/very long term upcycle trendline is at $475ish right now, so, gold would be a great buy in the $475-500 range. When the vast majority of gold writers say it's a great time to buy or are bullish, as they almost always are, it's rarely a good time for long term investors to buy.
HUI/XAU's Wave 2 Cyclical Bear Market began 5-11-06, see charts 7 and 9 at http://www.joefrocks.com/GoldStockCharts.html. The primary Secular Bull Market trendlines since late 2000 are at 200-220 for HUI and at 85-90 for the XAU. Those are the targets for where the Cyclical Bear Market will bottom. NEM's Wave 2 Cyclical Bear Market began on 1-31-06. ....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, SPX, XAU
posted by Joe Ferrazzano at
12:27 PM
