Message #1 From:
Joe Ferrazzano Date: January 10, 2006 12:13:50 PM
HUI, NEM, and the XAU Appear To Have Hit Minor Intermediate Term Cycle Highs Yesterday
That appear to be Elliot Wave 3 cycle highs for the major int term upcycle that began on 5-16-05. If so a substantial 15-25% correction (from yesterday's cycle highs) is likely in the next few weeks. The key index to watch is SPX, the S & P 500, which drives most indexes because it drives index fund trading.
