What an exciting day yesterday! The markets rallied the hardest in 4 years as many of them bounced off key technical levels. I remember watching my S&P500 Volatility model yesterday around 10:40 when the indicator began to collapse after being elevated for so many days. I thought it was really cool to see it happen in near real-time because right after 11AM, volatility jumped higher as markets began to rally.
If volatility drops further today than we might have officially made the bottom and I’m glad I was able to capitalize on one BUY signal at the 1470 level then. Too bad it didn’t give me a BUY signal at 1433 but I can fix that when I supersede the model with a better version in a few months.
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