Thanks Tim, Re: VLAP and market peaks.............
There's a lot of "value" stocks in the Value Line 1700, all of which performed quite well during the 2000-2002 downturn. That is probably what carried the VLAI on upward during that period while the S&P500 was sagging.
With equal weight on small and midcap value stocks as well as the larger caps in that period, the overall performance was better.
It would appear that most ways we look at the current market conditions, it's oversold. While "recovery" may not be immediate, it appears that longer term contrary investors are going to be rewarded going forward.