Subject: Re: Dying Bullish Euphoria - A Paratest
Using the NDX100 to produce the signals here is what that looks like in the last two major bear markets.

2000-2002 Bear Market

A 71.76% gain holding NDX100 short.

https://www.zeelotes.org/DBE_2...

2007-2009 Bear Market

A 25.91% gain holding NDX100 short.

https://www.zeelotes.org/DBE_2...

Even this can be improved upon by a simple little modification - set different lookbacks for the bull side than you set for the bear side.