Daily, rules-based rotation. Above the 200‑day trend it rides UPRO/TQQQ, parks in T‑Bills when signals weaken, and may briefly hedge with VXX/SQQQ/SDOW if things look too hot. Below the trend it buys sharp dips in TQQQ or holds hedges (bonds, gold, BTAL, SQQQ).

Step 1: Is SPY above its 200‑day average (a long‑term trendline)? If yes, ride upside with 3x S&P/Nasdaq (UPRO/TQQQ). If things look “too hot” (RSI, a 0–100 hot/cold meter, >~80), briefly hedge with VXX or inverse funds (SQQQ/SDOW). If weak, sit in T‑Bills (BIL). Step 2: If SPY is below the 200‑day average, run buy‑the‑dip/sell‑the‑rip on TQQQ: add after sharp drops (e.g., >10% in ~week or RSI<~30), hedge after surges; otherwise hold diversifiers (AGG/TMF bonds, GLD, BTAL) or SQQQ. Uses VXX (not UVXY) to avoid K‑1s. Rebalanced daily.

Out-of-sample, this strategy offers substantially higher upside than the S&P 500 (≈46.7% annualized vs ≈18.2%), with competitive risk-adjusted return (Calmar ≈1.06). Caveat: larger drawdowns (≈43.8% vs ≈18.8%) imply higher risk for tails.