Nasdaq 100 - 5th August 2024 | @ 36 Days | + 10.05%
Last trade: + 10.05% | 'B' class signal detected in the Nasdaq 100. Running at an average wavelength of 36 days over 11 iterations since July 2023. Currently troughing
ΣL Cycle Summary
Volatility has returned to stock markets worldwide and the component mentioned here is the main culprit for the increased price moves, not least in the Nasdaq. Whilst the larger brother, the 80 day nominal wave, has likely also peaked and has a trough proposed in early September, this smaller wave needs to make a pullback before the final flush into a larger low. We are well within the frequency modulation margin of error for a trough to be established in the Nasdaq and it shows little sign of losing it’s power. Bulls should note the larger picture and the potential for an early peak, the range of expected dates for that peak is detailed below in the signal detail section.
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: Early Sell - Nasdaq 17th July 2024
Entry: 17th July 2024 @ 19799.14
Exit: 5th August 2024 @ 17809.23
Gain: 10.05%