Note how bonds are gaining strength in the Momentum rankings in both models.
GLD has clearly been the catalyst for the LM model's superior equity curve although GLD is starting to show technical signs of needing a rest or a pullback. Maybe the covered calls idea deserved another look at this junction.
The wild card to keep a close eye on is the SH (SPY inverse) position in TAQK. If SH starts to migrate across the rankings the prospects for the equities side of the market are in trouble. Although the TAQK model holds zero position in SH currently that may well change if it starts to gain momentum.
