Reliable Market Lead Indicator Walmart (WMT) Is Leading To The Downside

Reliable SPX/market lead indicator Walmart (WMT) is leading to the downside, see http://finance.yahoo.com/q/ta?s=WMT&t=5d&l=off&z=l&q=c&p=&a=p12,fs,w14&c=. WMT put in a very short term cycle high just after the open (S & P 500 (SPX) didn't peak until just before session's end), then did a brief Wave A down move, followed by a countertrend Wave B move the remainder of the session, and, WMT put in a very large bearish spike on the intraday chart just before session's end, see http://finance.yahoo.com/q/ta?s=WMT&t=5d&l=off&z=l&q=c&p=&a=p12,fs,w14&c=.

The WMT Lead Indicator tended to get more bearish as the session progressed, and, closed at a bearish -0.54% versus SPX today 2-13, 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.

The NEM Lead Indicator tended to get more bearish/less bullish (turned bearish late in the session) as the session progressed, and, closed at a slightly bullish +0.08% versus the XAU today 2-13, see http://finance.yahoo.com/q/ta?s=%5EXAU&t=1d&l=on&z=l&q=l&p=&a=&c=%5Ehui,nem.

The only difference from what I said yesterday is that SPX (S & P 500) surprised to the upside some today (WMT Lead Indicator was a bullish +0.58% yesterday though). As discussed yesterday, see http://tradethecycles.blogspot.com/2008/02/gold-miners-etf-gdx-filled-its-downside.html, I'll be looking to short GDX (might hold a short overnight), the Gold Miners ETF, and, go ultra short (day trade) the major averages via either SDS, QID, or TWM, early tomorrow.

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

HUI NEM XAU