ΣL Gold Composite - 22nd December 2023 | @ 56 Days | - 0.66%

Last trade: - 0.66% | 'A' class signal detected in Sigma-L Gold composite (XAU vs USD/EUR/CAD/GBP/CHF/AUD/NZD/SGD/JPY). Avg. wavelength of 56 days - 16 iterations since Aug 2021. Currently peaking

ΣL Cycle Summary

We bring this Gold composite report to subscribers slightly earlier than scheduled due to it falling on Christmas Day (Monday) this time. The component around 55 days is a little modulated from the last trough but given the superb stationarity over the 16 iterations in the sample (and beyond!) we should pay close attention. The next peak is due over the next week or so and is assigned an ‘early sell’ below given the timing of this report and the current wavelength. Across major currency pairs the last iteration of the up leg from late November was largely neutral to bearish with the USD outperforming and the JPY ‘bringing up the rear’. The low in late October was likely of larger magnitude, so it will be interesting to see the depth of the move from the forthcoming down leg of this shorter wavelength component.