I think some of these 6 observations can be solved somewhat easier, like trends reverse quicker. We can adjust our system to adapt to new trend patterns. Just give trades more room at the beginning of the trend, and after accumulate some profit, then gradually tightening the trailing stop, after make some very big profit, simply profit taking, or use very tight trailing stop like previous day's low to exit. Such strategies work pretty good in this year's environment, stay in this year's big trends like silver, gold and bond to the end of trend and give back very little when the trend reverse due to very tight trailing stop.
Some other observations are more difficult to handle, like market becomes more correlated. May need to hold less markets when they all become correlated together. This can reduce the drawdown, but will inevitably reduce profit at the same time. Seems no easy solution.
Some other observation, like market trend less, may have some truth in it. In my opinion, though trend following advocates the idea that TF should ignore the fundamental, I think that doesn't mean fundamental is not important to TF, that only means no one can consistently accurately predict the fundamental, so trend following adopt a passive strategy to simply follow. What TF means is passive follow may be better than subjective prediction. But for trend following to really shine, there must be some Big and Sustainable Fundamental trends behind it. Without sustainable fundamental trends, the price can rise/fall dramatically in short time, but will reverse its previous move quickly due to no sustainable fundamental reason supporting it. Only if the fundamental change is big and sustainable, the trend can stay there for relatively long time, giving TF system to gradually tighten up trailing stop and reap profit. So the real reason TF system can make money actually depends on whether the world have some big and Sustainable Fundamental change. Sustainable is the key and by saying "sustainable" I mean at least stay there for 1 or 2 months. Like the last bonds move, rise dramatically in short time and stay at that level for a few months. So as long as the world is moving, there are some Sustainable fundamental change, TF is sure to make money though we may need to adjust our strategies to adapt to newest trend patterns change. And there will be favorable market conditions like 2008, and there will be conditions where not many sustainable fundamental changes like this year. Just like in some trading book, be relax when the market is favorable and have lots trends; be confident when market is difficult; and be patient and reduce leverage when necessary in challenging environment. As long as the world move/change and there are sustainable fundamental changes, the concept of TF will work forever. Some out-dated TF systems, like original turtle, may stop working, but the concept of TF will never die.
I am pretty new to this forum and just my understanding.