DAX - 13th May 2024 | @ 79 Days | + 3.64%
Last trade: + 3.64% | 'B' class signal detected in the German DAX. Running at an average wavelength of 79 days, sampled over 14 iterations since July 2021. Currently approaching a peak
ΣL Cycle Summary
Strong bullish price action in Germany’s main equity measure typified the up leg of the 80 day nominal wave since mid-late April. There is clearly still power coursing through the smaller waves from the 40 week nominal wave which last troughed in October 2023. We are somewhat early in the phase of this component for the peak, full details in the trade section below. Subscribers will note this wave is analogous to the same component in US markets, due to be updated 18th May. The equivalent 40 day nominal wave (@ ~ 37 days), as mentioned recently via the S&P 500, is also shown below and looks to be peaking imminently.
Trade Update
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous report for this instrument, linked below.
Type: Buy - DAX 9th April 2024
Entry: 9th April 2024 @ 18076.68
Exit: 13th May 2024 @ 18734.44
Gain: 3.64%