The ETF Complete model continues to be in primarily cash with a few short positions in SDS/EFZ/EUM/VXX in two of the models. Performance of the ETF models was again roughly the inverse of the SPY. After some decent selling pressure early in the week, the SPY closed positive thanks to a major rally on Thursday. It remains under the 200 DMA but it is right back up towards the lower portion of the trading range
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