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The third quarter of 2026 saw major equity indexes continue to move higher, with the S&P 500 gaining 2.3% and the Nasdaq Composite advancing 2.6% as both indexes reached new all-time highs during the quarter. However, gains became more concentrated as large-caps regained leadership. The equal-we

Leuthold's latest Major Trend Index holds at Low Neutral, as a modest breadth recovery does little to offset deeper structural concerns. Small caps clawed back from correction territory for their first simultaneous weekly gain since mid-August, yet leadership remains narrow - the Nasdaq notched anot

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The MTI held at Low Neutral, with Leuthold's tactical accounts keeping equity exposure at a moderate 51–52%. Large-cap strength (META +13%, S&P 500 +1.2%, Nasdaq at a new all-time high) masked a sharply narrowing market: the S&P 600 posted its sixth straight down week and the average S&P

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