People fall into the same patterns in their daily lives. Habits form very easily. As habitual creatures, we look for patterns which we can align with and feel comfortable. In the stock market, investors, and algorithms, trading on investors behalf, look for these patterns which suit them, and bet on it. This just happens to have occurred before and looks quite similar. Hmmm could it be something?
In your opinion, will the market fall because of a failed monetary system? Or will it fail because of central banks pulling the plug?
The stock market has previously followed in its own footprints and retrace its steps. In technical analysis, we see very typical patterns that form. This can be short term, as in intraday, or long term where the cycles appear after 75-200 years. We need to pay close attention to patterns when they form especially in today’s markets because they’re all trading on computer algorithms which specifically look for patterns as their main tool for trading.
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