Nasdaq (QQQ) - 19th November 2024 | @ 257 Days (36 Weeks)
'C' class signal detected in the Nasdaq 100 (via QQQ). Running at an average wavelength of 257 days (36 Weeks) over 14 iterations since March 2015. Currently peaking
ΣL Cycle Summary
This is the 40 week nominal wave as described recently in the S&P 500 (SPY) but features a good deal more modulation in the tech based index. For that reason the signal is rated a C category here, moderated with the knowledge that, regardless of the lower rating, this component is correlated across indices worldwide. The reason for the increased modulation is a larger influence from higher frequency components over the last few years. In simple terms it has been more volatile over shorter periods. This can be seen below with a powerful periodic feature around 115 days shining through and competing with the much longer (theoretically more powerful due to 1/f) lower frequency components.
The 40 week nominal wave is now peaking, the next trough estimates are described in more detail in the signal target & detail section below.