Hated market has 97% chance to rally: Citi

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

Hatred of the U.S. stock market is near levels last seen during the financial crisis, according to a Wall Street sentiment measure. And that, ironically, increases the chances the selling is almost over.

Citi Research strategist Tobias Levkovich said his time-tested sentiment model shows there is a 97 percent chance of market gains over the next 12 months. This probability is nearly 20 percent higher than historical average.

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