Leuthold's Major Trend Index remained at Low Neutral for the week ending September 18, with the Technical category downgraded a notch after the DJIA, S&P 500, Russell 2000, and Nasdaq Composite all fell below their 52-week moving averages. Broad market returns were mixed - the S&P 500 stayed roughly flat while Small and Mid-Cap indices dropped ~2% and moved closer to correction territory, even as the FOMC delivered a rate hike and the 10-year yield extended its recent climb. Despite the technical softening, non-tech-heavy Chart Scores still score well in aggregate, remaining the MTI's strongest case for staying invested, and Leuthold left tactical equity exposure unchanged at 51–52%.
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