A daily, rules‑based “protected leverage” plan: ride strength in 3x S&P/Nasdaq during calm or rising markets, add 3x Treasuries in gentle pullbacks, and retreat to T‑Bills or hedges when bonds flag stress or volatility jumps.

Each day the strategy decides where to park money. 1) First switch: if the bond market (BND) has risen over ~60 days, it’s Risk ON; if not, Risk OFF. 2) Risk ON: it rotates between 3x S&P 500 (UPRO) and 3x Nasdaq‑100 (TQQQ), often giving more weight to the calmer one. If pullbacks are mild, it can pair stocks with 3x long Treasuries (TMF). It will buy sharp dips, but avoids buying right after a +5% snapback day. If conditions look shaky, it parks in T‑Bills (BIL). 3) Risk OFF: if long‑term bonds are falling (rates rising), it shorts long bonds and may hold strong‑USD, commodities, or equity‑hedge funds. If bonds are rising (rates falling), it favors long Treasuries and defensive funds. Rebalances daily.

Out-of-sample: ~56% annualized return vs SPY ~21%, Calmar ~1.15, Sharpe ~1.29. Uses hedges and risk-on/off rules to capture upside, with higher drawdowns (~49%). Higher growth potential, but risk tolerance required.