Look at This Inflation, Plus a Major Warning to Kickoff the Trading Week

from King World News

Look at this inflation, plus a major warning to kickoff the trading week.

MAJOR WARNING: “Euphoria” Again

May 26 (King World News) – Peter Boockvar: The markets hall pass continues on as more things reopen around the globe, patient counts slow and hopes for a vaccine grow. At least in one valuable sentiment indicator all this has now been fully reflected. The Citi Panic/Euphoria index has now reached a new high over the past year in ‘Euphoria’. According to Citi, “Historically, a reading below panic supports a better than 95% likelihood that stock prices will be higher one year later, while euphoria levels generate a better than 80% probability of stock prices being lower one year later.” As seen below, it was good at marking the top in February and bottom in the 3rd week in March.

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