SPDR S&P Metals & Mining ETF - 12th April 2023 | @ 163 Days | Snippet
'B' class signal detected in SPDR S&P Metals & Mining ETF (XME). Attributes, targets and phasing analysis below
Signal Class & Attributes
Defining characteristics of the component detected over the sample period.
Detected Signal Class: B - learn more
Average Wavelength: 163 Days
Completed Iterations: 10
Signal Detail & Targets
Here we give more detail on the signal and our expectations for price, given the detected attributes of the component. In most cases the time target to hold a trade for is more important, given we focus on cycles in financial markets. Forthcoming trough and peak ranges are based upon the frequency modulation in the sample.
Phase: Late Down / Troughing
FM: +- 16 Days
Next Trough Range: April 19th - May 21st 2023
Next Peak Range: July 6th - August 7th 2023
Sigma-L Recommendation: Early Buy
Time Target: ~ 23rd July 2023
Price Target: ~ 59
I was wondering given that XME is under 56 now, does the 59 price target by roughly July 23 still seem realistic?