Panic Cycles are Different From Volatility

QUESTION: Mr. Armstrong; Your model called for a Panic Cycle on the 8th and Directional Change in the Dow. Then a rise in volatility starting the 9th. So the difference is the Panic Cycle was an outside reversal and then the direction change cemented that as the high. The volatility then kicks in which is the break. I have that all correct? This is just amazing how you pick the day of the high every time. But you can pick these wild days and then forecast volatility as well. This is far beyond anything out there.

Definitely see you in Orlando.

PD

ANSWER: Yes, that is correct. Panic Cycles are either a big move in one direct, or they are outside reversals that exceed and penetrate the previous range. That is distinguished from the three main types of volatility.