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Apr 08 2026
Market Internals

Climbing Higher

  • Apr 8, 2026

The Up/Down ratio for the final month of Q4 reporting is 1.65. As with the “final” readings of the two previous quarters, this is the best figure recorded in four years. The level and trajectory of the vignette strongly suggests that no economic recession is on the near-term horizon.

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About The Author

Phil Segner / Sr. Research Analyst & Co-Portfolio Manager

Phil Segner Sr. Research Analyst & Co-Portfolio Manager

Phil is a Co-Portfolio Manager and Sr. Research Analyst at The Leuthold Group, LLC. He is a member of the asset allocation and investment committees and is a major contributor to the firm's research publications.

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