XIV made an astounding 80% recovery from Thursday's plunge while VIX dropped almost 50% of its Thursday gains....and all the indices joined in the bull run.
We always expect added volatility at expiration Friday but this was one for the books.
M3 remains in cash based on the ALERT status and despite the vacillations of the rankings.
I've added a little dashboard to M3 to display a kind of consensus signal based on the various indicators.
This should help clarify what M3 is trying to tell us and make the risk on/risk off decision a bit easier.
