U.S. Global Go Gold and Precious Metal Miners ETF (GOAU) - 30th November 2023 | @ 138 Days | -10.66%
Last trade: -10.66% | 'C' class signal detected in U.S. Global Go Gold and Precious Metal Miners ETF. Average wavelength of 138 days over 9 iterations since October 2020. Currently hard up.
ΣL Cycle Summary
This modulated wave in GOAU just about retains it’s place on the site with a trough in mid November likely having occurred, a higher low in price which is rarely the case but can happen. Some label this an ‘inverted cycle’ but it is simply the result of varying amplitudes at the shorter components, notably not following the ~ 1/F power law for a transitory period. In this case likely the prominent wave ~ 55 days seen in spot gold. Amplitude is much trickier to model and predict than frequency, which is why we focus on timing in the main for Sigma-L. Amplitude in the long run tends to smooth itself out, as long as one sticks to correct timing!
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: Sell - GOAU 25th September 2023
Entry: 25th September 2023 @ 15.39
Exit: 30th November 2023 @ 17.03
Gain: - 10.66%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: C - learn more
Average Wavelength: 137.72 Days
Completed Iterations: 9