Markets are just beginning to leave panic levels of sentiment according to Citi's Panic/Euphoria model. This actually implies further market strength ahead, says the firm.
Citi:
Our Panic/Euphoria has climbed out of panic territory.
This week’s Panic/Euphoria reading was -0.08; versus last week’s revised number of -0.11, generating a high probability of a rally over the next six-to-12 months.
(Citi, PULSE Monitor, Tobias Levkovich, 5 November 2010)
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