SLV - 15th November 2023 | @ 294 Days | -0.79%
SLV - 15th November 2023 | @ 294 Days | -0.79%
Last trade: -0.79% | 'B' class signal detected in iShares Silver Trust (SLV). Running at an average wavelength of 294 days over 7 iterations since April 2018. Currently peaking
Instrument Summary
The iShares Silver Trust (SLV) is a New York Stock Exchange-traded fund (ETF) designed to reflect the performance of silver. It allows investors to gain exposure to the price movements of silver without owning physical metal. With its simplicity and liquidity, SLV offers one of the greatest exposures to silver's market fluctuations, making it a popular investment choice among those interested in precious metals.
ΣL Cycle Summary
This longer term wave in SLV is notionally related to the Hurst 40 week ‘nominal’ wave and has effectively been flat in the most recent move from the trough in late May / early June 2023. Within that sideways move price has been dominated by the smaller components, suggesting a flatlining underlying energy. With that in mind, this cycle is peaking and the current phasing suggests the next low is due toward the end of the 1st quarter, 2024.
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: Early Buy - SLV 31st May 2023
Entry: 31st May 2023 @ 21.61
Exit: 15th November 2023 @ 21.44
Gain:
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: B - learn more
Average Wavelength: 293.69 Days
Completed Iterations: 7
Component Yield Over Sample: 188.55% - learn more