Energy Select Sector SPDR Fund (XLE) - 6th December 2023 | @ 78 Days | - 4.55%
Last trade: - 4.55% | 'B' class signal detected in Energy Select Sector SPDR Fund. Running at an average wavelength of 78 days over 16 iterations since July 2020. Currently peaking
Instrument Summary
The XLE ETF aims to track the performance of the Energy Select Sector Index, which includes companies primarily engaged in the exploration, production, and distribution of energy resources such as oil, gas, and other energy-related products. The fund provides investors with exposure to the energy sector of the U.S. equity market.
ΣL Cycle Summary
The most recent up leg of this prominent wave in XLE has produced a sideways to bearish price structure since the trough in late October. This implies a bearish underlying trend and traders can anticipate acceleration to the downside from the down leg, coming up imminently with cycle peak due. The next trough of this component is due mid January, 2024.
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: Buy - XLE 27th October 2023
Entry: 27th October 2023 @ 86.56
Exit: 6th December 2023 @ 82.62
Gain: - 4.55%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: B - learn more
Average Wavelength: 78.4 Days
Completed Iterations: 16
Component Yield Over Sample: 168.81% - learn more