In response to “techtrader” in the comments below the video, here is a chart of the cycles of psychology overlaid on the chart. These cycles are like all market cycles in that they are fractal, they can be experienced on all timeframes. This is one of the slides I will be discussing during my online class on Friday, details are available HERE If you sign up, use the discount code “sprint” to save $100, courtesy of the TERRA NOVA, the brokerage firm I use.