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Evaluating the Current Cycle and Volatility
In this chapter, they discuss the importance of not letting nature take its course when it comes to trading on the range. They explain that although there may be some troubles, the current cycle is naturally bullish. They emphasize the need for risk management and taking profits when necessary. They also explore the discrepancy between the VIX and the true picture of volatility, highlighting the limitations of the VIX in capturing short-term swings. They mention the existence of the move index, but note that it also fails to provide a complete understanding of market movements.