Perfect Storm Index at 80/100 — extreme risk, unchanged.

Treasury yields still restrictive. Financial conditions tightening. Lower-quality credit showing stress. Geopolitical and energy supply risks hanging over us. Crypto sentiment shifted hard into greed territory.

Softer oil and a bit of risk appetite are helping, but not enough to move the needle down.

This is a capital preservation environment. Manage your positions tight. Respect the risk. I've seen setups like this before — they don't resolve gently.

Stay disciplined. Protect what you've got. The structure will tell us when it's safe to press again.