• In a little more than a month, U.S. stocks have gone from a record high to the fastest correction in history to the best week since 1938.
  • Driving these moves to a great extent were the contrasting investor sentiments of complacency at first and then panic.
  • If you can correctly characterize the week’s strong rally, you hold the key to what lies ahead.

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Written By: Mohamad El-Erian

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