VanEck Steel ETF (SLX) - 17th April 2024 | @ 78 Days | - 0.72%

Last trade: + 2.95% | 'B' class signal detected in the VanEck Steel ETF (SLX). Running at an average wavelength of 78 days over 17 iterations since April 2021. Currently troughing.

Apr 17, 2024

∙ Paid

Instrument Summary

The VanEck Steel ETF (SLX) is an exchange-traded fund that aims to replicate the performance of the global steel industry. SLX provides investors with exposure to well-established steel companies worldwide, including prominent entities such as Nucor Corporation, Steel Dynamics Inc., POSCO, and ArcelorMittal.

ΣL Cycle Summary

In the grand scheme and sample of things, the latest down leg of this excellent periodic feature in SLX (our steel proxy) has been largely flat, yielding a small loss of 0.72% from the price at our last report early March. The larger uptrend remains intact and this wave continues to punctuate it’s progress. The next peak of this component is anticipated to occur mid May. Subscribers will note the tremendous signal to noise ratio present in the time frequency spectra for this component, dominating within the bandwidth of around 100 - 10 days and sampled since April 2021.

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 1st March 2024
Entry: 1st March 2024 @ 70.92
Exit: 17th April 2024 @ 71.43
Gain: - 0.72%

Before and After

Signal comparison between our last report and the current time, in chart format.