Allocation

Strategic Analysis

Tactical Analysis – Core Asset Classes

Tactical – Satellite Asset Classes

Allocation

Proxies

Stocks: Vanguard Total Stock Market Index Fund ETF Shares (VTI)

Bonds: iShares Core U.S. Aggregate Bond ETF (AGG)

Commodities: Invesco DB Commodity Index Tracking Fund (DBC)

Currencies: Invesco DB G10 Currency Harvest Fund (DBV)

Volatility: iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ)

Definitions

Wave = 5 Day Trimmed Mean (70%) – 35 Day Trimmed Mean (70%)

Trend = Current price – 200 Day Trimmed Mean (70%)

Wave-Trend = Wave + Trend