ΣL Cycle Summary
Upgraded to an ‘A’ class signal after several recent accurate iterations and high correlation to price historically, this wave increased in amplitude to the downside during the latest leg, which likely troughed late June. The next peak looks to be around early August, sampled at the current average wavelength of ~ 78 days.
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: Sell - VanEck Steel ETF 21st May 2024
Entry: 21st May 2024 @ 72.76
Exit: 1st July 2024 @ 66.69
Gain: 8.34%