Classic Relief Rally

Just a quick post to show the sentiment swing that has caused/enabled the bear-market rally off of the March stock-market lows. The chart above is Intrade.com’s “Recession in 2008” contract and it is now at new lows, putting the odds at less than 25% vs. 80% at the height of the March panic. I’m guessing that the pendulum will soon start swinging back in the other direction.

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