.........Very Bearish WMT/NEM Lead Indicators
The WMT Lead Indicator was a bearish -0.82% versus SPX (S & P 500) today/on 12-26, was a bullish +0.29% on 12-24, was a very bearish -0.92% on 12-21, was a very bearish -0.97% on 12-20, and, was -0.19% on 12-19.
The NEM Lead Indicator was a very bearish -1.12% versus the XAU today/on 12-26, was a very bearish -1.10% versus the XAU on 12-24, was a very bearish -1.08% on 12-21, and, was -0.18% on 12-20, -0.26% on 12-19.
I'm waiting for NDX's (NASDAQ 100, http://stockcharts.com/charts/gallery.html?%24ndx), HUI's (http://stockcharts.com/charts/gallery.html?%24hui), the XAU's, and gold's short term upcycle since 12-18 to clearly break down, then I'll look to aggressively short an intraday/very short term countertrend Wave B rebound/upcycle (buy QID, the Ultra Short NDX ETF, and, short the GDX (Gold Miners) or GLD (gold) ETF).
One can see that NDX's peaks are rolling over/flattening out, 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=, so, NDX may have peaked today, or, if not, probably will tomorrow. Tomorrow is the Fed's punch spiking Thursday, when they nearly always add a massive amount of credit that fuels index fund program traders, so, there might be more upside tomorrow.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
The NEM Lead Indicator was a very bearish -1.12% versus the XAU today/on 12-26, was a very bearish -1.10% versus the XAU on 12-24, was a very bearish -1.08% on 12-21, and, was -0.18% on 12-20, -0.26% on 12-19.
I'm waiting for NDX's (NASDAQ 100, http://stockcharts.com/charts/gallery.html?%24ndx), HUI's (http://stockcharts.com/charts/gallery.html?%24hui), the XAU's, and gold's short term upcycle since 12-18 to clearly break down, then I'll look to aggressively short an intraday/very short term countertrend Wave B rebound/upcycle (buy QID, the Ultra Short NDX ETF, and, short the GDX (Gold Miners) or GLD (gold) ETF).
One can see that NDX's peaks are rolling over/flattening out, 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=, so, NDX may have peaked today, or, if not, probably will tomorrow. Tomorrow is the Fed's punch spiking Thursday, when they nearly always add a massive amount of credit that fuels index fund program traders, so, there might be more upside tomorrow.
....... http://www.JoeFRocks.com/ .
HUI NEM XAU
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
1:19 PM
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