ΣL Cycle Summary
Here we have a coherent periodic feature that is highly conspicuous across multiple stock markets, including here in the S&P 500, Nikkei and Dax, amongst others. Running at a trading day wavelength of around 82 days, it is peaking now.
The low back in February of this year was likely of larger magnitude, although cycles at this scale are currently fairly noisy and not worthy of posting, yet. However, we can assume the phase of the larger feature is up so a flatter retrace is likely for this smaller cycle.
We will keep an eye on this one going forward, it appears to span the globe in terms of it’s stationarity across multiple major stock market averages and that in itself is remarkable.