The Chart du Jour
It took our admission of being out of synch with the markets in the 10/29 Chart du Jour to truly mark us as being out of synch. Specifically, with our 1111 short-stop level on the cash S&P 500 index yet to be elected, but close at hand as of Sunday evening, it took our warning that this stop would likely be taken out with time to send the major market indices immediately lower.
These things happen.
It has also led us to do a bit more intensive chart analysis. Depicted below is now our "best guess" wave count analysis of the current S&P chop, done on a 60-minute chart. It argues that we are in the midst of a sloppy A-B-C corrective period, in which we likely have finished an A up-wave, recently experienced B down-wave (maybe not quite done despite Wednesday's rally), and then will eventually experience a C up-wave. It remains our pre-disposition -- given the current Fibonacci "fit" of the price action -- that a target for the corrective C up-wave to finish now stands in the 1124-1128 region. This is quite simply a sloppy choppy mess -- as corrective periods tend to be.
As far as timing a high is concerned, we add below to our 60-minute chart a Gann angle Box. In this chart we set the two-box interval to the S&P high of last Friday. If this added tool points to anything, it would point to support along the Gann angle line near point B labeled "support zone trend check," and a potential C-wave high toward the 16th-19th of November.
So our official call for now is this: Corrective head-fakes up and down in the short term should eventually yield back to a more bearish trend post November 16-19. Patience in the short term should yet yield a better level toward 1124-1128 to re-establish short positions. The ultimate down-move that should reemerge out of this corrective period will then represent at least a serious retest of the lows of September 21st, if not something far more serious.
How Your Articles Are Delivered
Upon the processing of your credit card or the receipt of a personal check, Sand Spring will e-mail you the articles requested as a Word attachment, and also provide you with a WWW address and password to view the article on the web without using Word should you so desire. Confirmation of your order will be immediate, and the actual article will follow by e-mail typically within a few hours and in all cases before the opening of NYSE trading on the following day.
Ordering by Credit Card:
Our shopping cart is designed for both physical and subscription products, so do not be confused too much when it asks you for a shipping address. A correct address is important only for credit card authorization purposes. Your e-mail information is the most important piece of information to us for proper delivery of your article(s).
Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.
If you order by credit card, your credit card will be billed as "Sand Spring Advisors LLC"
Take me back to the Sand Spring Home Page
Comments or Problems
Thank you for visiting Sand Spring Advisors LLC, Inc. We hope to hear from you again soon. For more information on Sand Spring Advisors actual programs, services, or to request a copy of a Disclosure Document, please phone us at 973 829 1962, FAX your request to 973 829 1962, or e-mail us at information@Sandspring.com
| Corporate Office: 10 Jenks Road, Morristown, NJ 07960 Phone: 973 829 1962 Facsimile: 973 829 1962 |
Best Experienced with
The material located on this website is also the copyrighted work of Sand Spring Advisors LLC. No party may copy, distribute or prepare derivative works based on this material in any manner without the expressed permission of Sand Spring Advisors LLC
This page and all contents are Copyright © 2000 by Sand Spring Advisors, LLC, Morristown, NJ
