The JTS will remain short. The strict requirements to flip it long in an unhealthy environment were not even close to being met today. However, the CCI is going long here due to the magnitude of the drop. It is expecting a dead cat bounce early next week.
The disagreement between the 2 models will send me and the JT Composite back to cash. I will happily take the profits here. My only regret is not sticking with TZA to short. Oh well, not going to complain.
Stepping back to assess the situation/damage.... Despite the large move in the VIX, the VIX futures still remain in strong contango. This may set up a nice XIV trade sometime next week. But I will be careful longing next week due to poor seasonality - next week does not look good. Meanwhile, liquidity via the Fed is still strong. Overall, I'm not enthusiastic about the long side but some more down days next week may change my mind.
Here is seasonality next week via sentimentrader and tsptalk. Monday is Day 16 on the chart. Have a great weekend! Enjoy the big win!!!