The Leuthold Group's latest Major Trend Index report flags a deteriorating technical outlook, with the overall MTI downgraded to Low Neutral for the week ending March 27th. A new sell signal from the S&P 500 Stop-and-Reverse Model drove net equity exposure in tactical accounts down to 46%. With larger-cap indexes sliding and parallels emerging to last spring's tariff-driven decline, the report suggests markets may only be halfway through the current pullback.
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