Check Out The Extremely Bearish One Year NEM Lead Indicator
Check out the extremely bearish one year NEM Lead Indicator, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=1y&l=off&z=l&q=l&p=&a=&c=%5Ehui,nem.
Technically HUI/XAU's Wave 1 Cyclical Bull Market is peaking in dramatic rollover mode versus 5-11-06's cycle highs at 401.69/171.71 (http://stockcharts.com/charts/gallery.html?%24hui). The 5% major sell signal, see annotated charts 15 and 18 at http://www.joefrocks.com/GoldStockCharts.html, that occurred in May 2006, correctly indicated that it was time to turn bearish on HUI/XAU.
The primary Secular Bull Market trendlines since late 2000 are at 200-220 for HUI and at 85-90 for the XAU, see charts 7 and 9 at http://www.joefrocks.com/GoldStockCharts.html. Those are the targets for where the Cyclical Bear Market will bottom. HUI/XAU basically entered a Cyclical Bear Market after 5-11-06's cycle highs at 401.69/171.71, because, there was no way of knowing whether HUI/XAU would peak in dramatic rollover mode 17 months later (now), making modestly higher cycle highs. NEM's Wave 2 Cyclical Bear Market began on 1-31-06.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Technically HUI/XAU's Wave 1 Cyclical Bull Market is peaking in dramatic rollover mode versus 5-11-06's cycle highs at 401.69/171.71 (http://stockcharts.com/charts/gallery.html?%24hui). The 5% major sell signal, see annotated charts 15 and 18 at http://www.joefrocks.com/GoldStockCharts.html, that occurred in May 2006, correctly indicated that it was time to turn bearish on HUI/XAU.
The primary Secular Bull Market trendlines since late 2000 are at 200-220 for HUI and at 85-90 for the XAU, see charts 7 and 9 at http://www.joefrocks.com/GoldStockCharts.html. Those are the targets for where the Cyclical Bear Market will bottom. HUI/XAU basically entered a Cyclical Bear Market after 5-11-06's cycle highs at 401.69/171.71, because, there was no way of knowing whether HUI/XAU would peak in dramatic rollover mode 17 months later (now), making modestly higher cycle highs. 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, XAU
posted by Joe Ferrazzano at
10:03 AM
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