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With this category now breaking into negative territory, we thought it would be interesting to look back at the other periods when the Momentum/Breadth/Divergence category shifted from a positive net reading to negative.

Performance of today’s Financial sector is somewhat tracking the performance during the S&L crisis. Paints bleak picture of what may lie ahead.

In trying to assess how far the Fed may ultimately be forced to cut rates, the price action in short term Treasuries and historical yield relationships may offer some clues.

It is very possible that the early part of 2008 will see a brief period of higher inflation combined with slowing real growth in the U.S. economy.

Quite simply, VLT (which stands for Very Long Term) is a momentum oscillator which works best as a buy signal. Some market technicians have also suggested that VLT Momentum back-tests well as a currency indicator.

Funds offering exposure to non-U.S. equity asset classes have been seeing a fair amount of net inflow this year, while U.S. equity funds have been mostly ignored.

CPI Accelerating In Q4, Economy Creeping Along, But Expect Recession In 2008

With a heavily promotional holiday shopping season underway, we feel compelled to join the fray by looking at the big markdowns in U.S. homebuilding and bank stocks.

Bulls may indeed have Christmas, but fundamentals for bearish case in 2008 are extensive.

Thanks to weak dollar, foreigners may be buying up Florida vacation homes. The U.S. is now on sale! Making the long term bullish case for a dollar rally against the euro.

Now could be the time to get in before markets fully discount the potential growth and better assess the risk.

Client disputes Leuthold’s call for big oil to invest in alternative energy business. Read Steve’s in-depth rebuttal.

Steve's commentary on the stock market's Wall of Worry, the oil patch and mining company squeeze, the abusurdity of corn to ethanol and the world's most valuable companies.

October marked new all-time highs for the S&P 500 and Dow Jones Industrials, while mid and small cap indexes like the Russell 2000, S&P 600 and S&P Mid Cap indexes, tested, but failed to take out their July-2007 highs.

Small Cap outlook continues to deteriorate. Despite recent underperformance, valuation premium is not shrinking.

Relative valuations seem to support a continuation of energy stock strength.

Fed rate cuts not reaching intended targets. Commodity groups caught fire after the initial August 17^th cut and continue to be strong. Meanwhile financial institutions and consumer related groups continue to languish.

Mega Cap stocks (largest 50) derived 47% of income from foreign sources in 2006, up from 37% in 2000. Small/Micro cap stocks received just 15%-20% of income from foreign sources in 2006.

Bad breadth is a global concern. It may come as a surprise that foreign breadth is actually weaker than U.S. readings.

Leuthold’s equity portfolios—and especially our global portfolio—have capitalized on the past few months’ surge in commodities and other basic industries.