Sand Spring Advisors LLC

Sand Spring Advisors LLC

Euro FX and Gold March Higher

November 6, 2002

by, Barclay T. Leib

Our short-term expectation is that Europe may follow the lead of the Fed and cut rates Thursday. If so, the recent equity frothiness will likely continue for just a tad longer, maybe up to around 947 on the S&P, or maybe even 975. But this is the cycle time window and price window to be booking out profits on longs, and psychologically getting ready to go short -- particularly if prices between 975-1002 on the S&P 500 are seen within the next several trading days.
Meanwhile over in the world of euro-fx, where we have been agnostic and quiet since advising exiting euro longs earlier this year at 1.02, two different Fibonacci fractal rhythms on both a daily and monthly chart now point toward another new high for the euro around 1.0413-1.0417.

Chart constructed using Advanced GET End-of-Day

Elsewhere, we are still long-term bullish USD/JPY, but a further euro ascent in the short-term appears to be putting yen weakness on hold for now. Meanwhile, hi-ho, hi-ho, higher gold should go -- to near 334.80 or so.

Chart constructed using Advanced GET End-of-Day

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This is an updated overview of how we see 2003-2004 developing, and offers specific date clusters related to pi rhythms that should be of particular importance to the financial markets. For those interested in the history of pi mathematics through ancient times, much historical context is also offered....
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