Here is the latest data for the different Kipling models.

• Dual Momentum model continues to recommend holding 100% of the portfolio in TLT.
• HA model with Target Filter turned on: IAU, AGG, TLT, and SCHP.
• BHS model with TF turned on:  IAU and TLT
• LRPC model with TF turned on:  IAU, AGG, IAGG, TLT, SCHP and SH.

All models continue to tilt toward low volatility securities.

Lowell