Research.LeutholdGroup

The Major Trend Index served up a Halloween surprise, returning to Neutral status with a weekly reading of 1.01 based on data from the last week of October. Our disciplines allow us some flexibility when the MTI resides in this relatively narrow (0.95–1.05) band, and we’ve elected to remain positioned with below-average net equity exposure of 42% in the Core Portfolio and 41% in the Global Portfolio (with the lower figure for Global reflecting the pathetic bounce in foreign stocks off last month’s lows.)