The model score increased 9 points to -25 today. So far, the model has just scored positive once since early October 2018.  We still have not seen a series of positive scores since early October 2018 which will be a signal that liquidity is returning to equities. As well, we have not *yet* seen any major correction and note that the longer the market maintains its upward bias the more likely is that the real surprise will be the upside. As we noted in the weekend video we do expect sideways trading for 3-4 weeks.

We are still in full Risk Off, invested in TLT.

We are very near to a big impulsion moment, either up or down – realized volatility continues to compress.  Maximum protection of portfolio via options.

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