A Countertrend Wave B Type Rebound Occurred At The Open

A countertrend Wave B type rebound occurred at the open for HUI/XAU/SPX/NDX etc, see http://finance.yahoo.com/q/ta?s=%5Endx&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=, with help from program traders (account for about 70% of the dollar volume on the NYSE) due to the Fed's massive $27.75 Billion credit injection today, see http://www.newyorkfed.org/markets/omo/dmm/temp.cfm?SHOWMORE=TRUE. This means that the session cycle high probably occurred at the open for HUI/XAU/SPX/NDX etc.

I'm waiting for an intraday Wave B type rebound, that should obviously bottom below the cycle high that occurred at the open. The Walmart (WMT) Lead Indicator is very bearish right now (see http://finance.yahoo.com/q/ta?s=%5EHUI&t=1d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC), and, the NEM Lead Indicator is bearish right now, see http://finance.yahoo.com/q/ta?s=^XAU&t=1d&l=on&z=m&q=l&p=&a=&c=^hui,nem.

Since NDX (NASDAQ 100, http://stockcharts.com/charts/gallery.html?%24ndx) appears to have put in a third/final Wave 5 and therefore monthly cycle high, for the cycle since early November (SPX's began in late November), versus SPX (S & P 500, http://stockcharts.com/charts/gallery.html?%24spx) having put in a second/Wave 3 cycle high, I'm going to short NDX via QID instead of shorting SPX via SDS. I'm also looking to short HUI (http://stockcharts.com/charts/gallery.html?%24hui) via shorting GDX.

....... http://www.JoeFRocks.com/ .

HUI NEM XAU