Greater fool theory states that the price of an object is determined by irrational beliefs and expectations of market participants.
Bull market will run until the last fool has bid up the price of a security up to its maximum price.
Once done,there are no greater fools willing to pay more for the security.
Therefore, the bull run is over and the index must decline.
Now coming to today's analysis , I have drawn a key resistance level on the weekly chart
Also to note is that the body of the candle is becoming smaller & smaller leading to a doji.
Hence in the present scenario, & as per the theory - i will wait in the side lines and wait for market to decide
Obviously the momentum has reduced , hence wait and let the market show us the way.
So, if you liked this fools theory & if you are not a fool ; you can click on the above "Like" button to support me !
Bull market will run until the last fool has bid up the price of a security up to its maximum price.
Once done,there are no greater fools willing to pay more for the security.
Therefore, the bull run is over and the index must decline.
Now coming to today's analysis , I have drawn a key resistance level on the weekly chart
Also to note is that the body of the candle is becoming smaller & smaller leading to a doji.
Hence in the present scenario, & as per the theory - i will wait in the side lines and wait for market to decide
Obviously the momentum has reduced , hence wait and let the market show us the way.
So, if you liked this fools theory & if you are not a fool ; you can click on the above "Like" button to support me !