.......The NEM Lead Indicator Is Very Bearish

The NEM Lead Indicator is very bearish, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=on&z=l&q=l&p=&a=&c=%5Ehui,nem. It was a very bearish -1.65% versus the XAU on 2-15, -0.03% on 2-14, +0.08% on 2-13, -1.79% on 2-12, -1.18% on 2-11, and -1.51% on 2-8.

A very sharp/substantial decline is likely to occur for HUI/XAU (short Wave C downcycle began 1-30-08) this week, in which the XAU (http://stockcharts.com/charts/gallery.html?%24xau) will probably fill it's downside gap at 161.75 (bottom at 161ish shortly after filling 161.75), versus a close on Friday 2-15 at 177.33, for a substantial decline of about -9.21% in the next week or so. GDX, the Gold Miners ETF, will probably fill downside gaps at 44.33 and 42.87, and, should bottom at 42.50ish shortly after filling 42.87.

The WMT Lead Indicator turned bearish the past three sessions, it was a very bearish -1.14% versus SPX (S & P 500) on 2-15, -0.02% on 2-14, and, was a bearish -0.54% on 2-13. When the NEM and WMT Lead Indicators strongly agree, as they obviously do now, severe weakness becomes very likely short term.

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

HUI NEM XAU