Sigma-L - Market Cycles

Sigma-L - Market Cycles

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Sigma-L - Market Cycles
Sigma-L - Market Cycles
Global X Copper Miners ETF (COPX) - 18th December 2023 | @ 79 Days | + 9.17%
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Metals

Global X Copper Miners ETF (COPX) - 18th December 2023 | @ 79 Days | + 9.17%

Last trade: + 9.17% | 'A' class signal detected in Global X Copper Miners ETF (COPX). Average wavelength of 80 days over 9 iterations since December 2021. Currently peaking

David F's avatar
David F
Dec 18, 2023
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Sigma-L - Market Cycles
Sigma-L - Market Cycles
Global X Copper Miners ETF (COPX) - 18th December 2023 | @ 79 Days | + 9.17%
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Instrument Summary

The Global X Copper Miners ETF (COPX) is an exchange-traded fund tracking copper mining firms. Holdings include First Quantum Minerals, Lundin Mining, and Southern Copper. With global copper demand for industries like construction and electronics, COPX offers diversified exposure to this sector's potential, aligning with copper price shifts.


ΣL Cycle Summary

Here we have the excellent periodic component in COPX, analogous to the 78 day wave in the underlying asset, peaking. The low in early November was likely of larger magnitude so we can perhaps expect a higher low to form in late January for the next iteration of a trough. The high pass filtered time series, shown below, demonstrates the superb amplitude stationarity present in this signal over the last two years, only slightly decreasing over the last two iterations.


Trade Update

See also: Live ΣL Portfolio & History

Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.

Type: Buy - COPX 3rd November 2023
Entry: 3rd November 2023 @ 34.04
Exit: 15th December 2023 @ 37.16
Gain: 9.17%


Current Signal Status

Defining characteristics of the component detected over the sample period.

Detected Signal Class: A - learn more
Average Wavelength: 80.42 Days
Completed Iterations: 9
Component Yield Over Sample: 156.09% - learn more

Time Frequency Analysis

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