Psychological Warfare

There are 3 types of market analysis, Technical, Fundamental and Mass Psychology with the latter being the least understood and perhaps the most important.

I often say if you want to work in the market as a trader, don't take economic at college, that's all  theoretical garbage and they are the only group with a worse track record than the weather man.

Tell me, what do you see on this chart that has to do with mass psychology?

What do you see that would keep a short in place and give them hope? What has the market been doing all day and what changed that in the last few minutes?

Let me give you a hint. When you go to the store or shop anywhere, EVEN GARAGE SALES...

 (Believe it or not I took a 2 week course in Baltimore on the entire subject of sales from what color scheme businesses use, such as fast food- Red and Yellow, red is the first color your eyes focus on and yellow is associated with hunger. Now thing, McDonalds, Burger Kind and Wendy's all use what two colors?)

What are the last two digits of nearly every price tag? They are 99, whether $1.99 or $199,999 (house price). It really makes a difference.

So what's the important number near the close on this chart that fits with my earlier post, "Strategic Update"?