In calm markets it “surfs” dips in 3× stock funds; when markets get jumpy it only buys big pullbacks or hides in a defensive basket. In healthy uptrends it runs a levered 55/45 stocks–bonds mix. Uses TECL for tech dips, TQQQ elsewhere.

It averages two copies of the rules (using 1% and 2% recent SPY volatility) to smooth signals. If SPY is calm, it “surfs” dips: buys the most beaten‑down of UPRO (3× S&P 500), TECL (3× Tech) or SHY (short‑term Treasuries) using RSI (lower = more sold‑off). If swings are larger: when the market is >10% below its peak, it buys TQQQ/UPRO after a >5% weekly drop (unless they just spiked >5% in a day), else holds a defensive mix (UUP dollar, GLD gold, XLP staples). If the trend is healthy, it runs ~55% levered stocks (UPRO/TQQQ, volatility‑balanced) and 45% TMF (3× long Treasuries); otherwise stays defensive.

Out-of-sample, this strategy targets ~38.7% annualized return vs SPY’s ~22.9%, with solid risk metrics (Calmar ~0.74, Sharpe ~0.91). Expect larger drawdowns in downturns, but the approach offers higher long‑run growth and smoother signals through dual-volatility filtering.