Pascal, Billy,

I am wondering if the market is changing.

We had a recent top in the IWM of 85.89 and most recent low is 74.88.

The DMF20 has not been able to pick up on this down move of more than 10%. That is either a sign that the move is not followed by big money, or the market is changed from the days DMF20 was developed. I note that the VIX was also late to the party, which would point to the first reason.

Considering your thoroughness I presume the 20 part of DMF was decided upon after an statistical optimization process. If you would do that optimization again over recent months - would 20 again be the optimal, or is a short average more effective.

Appreciate your insight,

Ernst