Nothing Changes Sentiment Like Price
Just nine months ago, markets were pricing in the end of the world as we know it. Some high-flying tech stocks fell over 90% from their peaks, and the market believed a recession in 2023 was all but guaranteed. Fast forward to today, and we’re in a totally different environment, with stocks having their best first half in decades and the market expecting gains to continue. 🤯
Technical analysts tend to say, “Nothing changes sentiment like price.” And boy, is that applicable lately. A stunning example of this is with online car retailer Carvana, which has been on one heck of a ride.