ΣL Cycle Summary
A surprisingly asinine and generally sideways down leg typified the latest move from this historically excellent signal in the Dollar Index. The lack of amplitude in the down leg suggests some power from longer component(s) pushing up, the result of which should be evident in this next leg higher as this cycle joins in synchrony. The most recent trough of this component is currently phased to have occurred (likely late June) or to occur very shortly. Breaching the October 2023 highs (a 40 week nominal wave peak) will seal the deal.
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 - US Dollar Index 4th April 2024
Entry: 4th April 2024 @ 104.12
Exit: 1st July 2024 @ 105.51
Gain: - 1.33%