.....GDX/HUI/XAU Probably Didn't Bottom Today

GDX/HUI/XAU (GLD lags them) probably didn't bottom today 9-8, see http://stockcharts.com/charts/gallery.html?gdx, and, see http://finance.yahoo.com/q/ta?s=gdx&t=5d&l=off&z=l&q=c&p=&a=p12%2Cfs%2Cw14&c=.

Obviously, the Fannie Mae/Freddie Mac Bailout by the government, which led to a US Dollar spike, was a huge factor today 9-8.

The sector NEM Lead Indicator was an extremely bullish +3.11% versus the XAU today/on 9-8, which points to more downside tomorrow, because, GDX/HUI/XAU didn't respond to an extremely bullish NEM Lead Indicator (for one day, five day, and three month timeframes). The five day NEM Lead Indicator (http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=on&z=m&q=l&p=&a=&c=%5Ehui,nem) and the three month NEM Lead Indicator (http://finance.yahoo.com/q/ta?s=%5EXAU&t=3m&l=on&z=m&q=l&p=&a=&c=%5Ehui,nem) are also extremely bullish.

Reliable lead indicator Newmont Mining (NEM) has a large bearish spike on a bearish black (indicates a close below the open) candle today 9-8, see http://stockcharts.com/charts/gallery.html?nem, so, it's doubtful that NEM bottomed at 39 on Friday 9-5.

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

NEM XAU HUI