Citigroup: Investors Still Euphoric Despite Recent Downturn

Citigroup Inc (NYSE:C) analysts are at the forefront of attempts to boil market action down into a few easily read metrics. The company's PULSE reports always provide interesting reading, particularly at a turning point like the one that has emerged in the past week. The S&P 500 has lost more than 1% of its value since 2014 began and much of the drop has come in the past five days.

According to Citigroup Inc (NYSE:C) analysts Tobias Levkovich, Christina Wood and Lorraine Schmitt, the market is generally undervalued, but a downward correction may still be on the way in the first half of 2014.

Citigroup forecasts uncertainty

The PULSE report is made up of five major sections, Price, Unanticipated, Liquidity, Sentiment and...