The Major Trend Index ended the week of February 6th at High Neutral. Our bellwether indexes provided another cluster of confirmation for the health of this market, with five of the eight posting new all-time highs on Friday. However, the dispersion of returns for the first week of February was considerable. The S&P 400 and 600 both gained roughly 4%, while the cap-weighted S&P 500 needed every bit of Friday’s 2% gain to break even for the week. Net equity exposure in Leuthold tactical accounts moved higher and sits at 59%.
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