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“83% historical probability of losses in the next 12 months”…

Just passing along this interesting data point from Citi’s Tobias Levkovick (via Business Insider):

“This week’s Panic/Euphoria reading was 0.52; versus last week’s revised number of 0.49, which points to two weeks in a row of euphoric signals, matched by increased money flows,”

“Euphoria readings indicate the market may retreat with an 83% historical probability of losses in the next 12 months,”

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