Sigma-L - Market Cycles

Sigma-L - Market Cycles

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Sigma-L - Market Cycles
Sigma-L - Market Cycles
VanEck Steel ETF (SLX) - 7th December 2023 | @ 76 Days | + 4.88%
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Metals

VanEck Steel ETF (SLX) - 7th December 2023 | @ 76 Days | + 4.88%

Last trade: + 4.88% | 'B' class signal detected in the VanEck Steel ETF (SLX). Running at an average wavelength of 76 days over 13 iterations since April 2021. Currently peaking.

Dec 07, 2023
∙ Paid
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Sigma-L - Market Cycles
Sigma-L - Market Cycles
VanEck Steel ETF (SLX) - 7th December 2023 | @ 76 Days | + 4.88%
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Instrument Summary

The VanEck Steel ETF (SLX) is an exchange-traded fund that aims to replicate the performance of the global steel industry. SLX provides investors with exposure to well-established steel companies worldwide, including prominent entities such as Nucor Corporation, Steel Dynamics Inc., POSCO, and ArcelorMittal.


ΣL Cycle Summary

This metronomic and high yielding component in our steel proxy, SLX, climbed in an almost linear fashion through November, recently peaking in line with the current wavelength and frequency modulation. The outlook is straightforward: the next trough is due mid January and, as usual, the amplitude of the retrace here will inform the status of underlying trend.


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: Late Buy - SLX 6th November 2023
Entry: 6th November 2023 @ 65.84
Exit: 7th December 2023 @ 69.05
Gain: 4.88%


Current Signal Status

Defining characteristics of the component detected over the sample period.

Detected Signal Class: B - learn more
Average Wavelength: 75.96 Days
Completed Iterations: 13
Component Yield Over Sample: 188.70% - learn more

Time Frequency Analysis

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