VanEck Steel ETF (SLX) - 16th January 2025 | @ 162 Days | + 16.01%
Last trade: + 16.01% | A' class signal detected in the VanEck Steel ETF (SLX). Running at an average wavelength of 162 days over 12 iterations since May 2019. Currently troughing
ΣL Cycle Summary
This exceptional cycle, which dominates the spectra below 200 days within our steel proxy, SLX, continues to provide profitable opportunities and is stable at a wavelength of around 160 days. This time the trade to the downside featured an increase in amplitude, boosting yield from the most recent peak, formed in November 2024. The phasing now suggests a trough of this component is due. The report is a little early so be mindful of the margin of error in the signal details and targets below.
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 - VanEck Steel ETF (SLX) 11th November 2024
Entry: 11th November 2024 @ 71.82
Exit: 16th January 2025 @ 60.32
Gain: 16.01%