Regardless of the direction, a new trend does not form easily. And once a strong trend is established, it does not reverse easily either because of the momentum and persistence behind it. Even if the broader market environment is unfavorable, once a trend has been established, it often takes much more time and a longer process than expected for that trend to reverse again. The problem is that this kind of extreme volatility strongly affects investor psychology. Sharp price movements trigger dopamine and excitement, making it much easier to become emotionally absorbed in every move. When we look back from a broader time horizon, many of these moves turn out to be nothing more than small structures within a much larger trend. But in the moment, we tend to assign too much significance to each of these small structures. When this happens repeatedly, we begin to doubt our original analysis and judgment, which can eventually lead to poor decisions. Right now is not the time to place too much significance on every small market structure or short-term price movement.(mignolet)