ΣL Uranium Composite - 21st May 2024 | @ 76 Days | - 11.02%
Last trade: - 11.02% | 'A' class signal detected in in Sigma-L Uranium Composite (NXE/DNN/UEC/CCJ/UUUU). Average wavelength of 76 days over 14 iterations since September 2021. Currently moving up.
ΣL Cycle Summary
Are we anticipated in the last report, underlying bullish pressure from the longer wave around 150 days has kept the down leg of this wave relatively sideways until recent days when we have seen a marked move up. This likely marks the low for the component around 75 days, being well within the margin of error defined by the frequency modulation at the last report (+- 6 days). The power from the larger component effectively bends the smaller wave and this effect is seen on all timeframes in all markets, such is the nature of underlying trend and the ~ 1/f power law evident in the power spectrum of financial instruments. Put simply, longer, lower frequency components have more power to drive price action and this is a good example for subscribers to note.
Both components are due to peak mid-late June so we should get a period of very bullish price action whilst these two features are working in combination, leading to a significant peak at that point. That point will likely be a peak of an even larger magnitude cycle, however that remains to be confirmed.
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 - ΣL Uranium Composite 23rd April 2024
Entry: 23rd April, 2024
Exit: 21st May, 2024
For a composite analysis, each constituent’s respective gain over the period is displayed, in descending order. The average of the constituent gain is also shown.
Constituent Gain:
NXE (-0.95%)
UEC (-8.39%)
CCJ (-8.95%)
DNN (-11.27%)
UUUU (-25.51%)
Composite Average Gain:
-11.02%