Major Trend Index Rose 0.02 to 0.99 - Neutral

The Major Trend Index rose 0.02 to 0.99 in the latest week, remaining within the neutral range where it’s been contained since late October. The background of inflated U.S. valuations, complacent sentiment and deteriorating internal market action continues to worry us, but the MTI’s trend-following elements have remained healthy enough to prevent us from moving to a more defensive posture. Net equity exposure in both the Core and Global Funds remains unchanged at 50%.