USO's Trying To Fill Tuesday's Upside Gap At 71.37

USO's (US Oil ETF) trying to fill Tuesday's upside gap at 71.37, see http://finance.yahoo.com/q/ta?s=uso&t=5d&l=off&z=l&q=c&p=&a=p12%2Cfs%2Cw14&c. After USO fills that upside gap or clearly fails to fill it one can decide if it makes sense to short USO or go long. See the previous post at http://tradethecycles.blogspot.com/2008/02/united-states-oil-etf-uso-looks-like.html.

I'm looking to short GDX today, the Gold Miners ETF, because, HUI/XAU have had a big spike move today (final Wave 5 blowoff spike of the upcycle since early yesterday, see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c=), are completing a very short term Elliott Wave 12345 up down up down up upcycle that began early yesterday, and, the NEM Lead Indicator is very bearish today (> -1.00% versus the XAU right now), see http://finance.yahoo.com/q/ta?s=^XAU&t=1d&l=on&z=m&q=l&p=&a=&c=^hui,nem.

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

HUI NEM XAU