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As bearish sentiment increases, it is easy to get trapped in negative psychology during the decline. However, as Bob Farrell once stated, "investors tend to buy the most at the top and the least at the bottom."
While deviations are more extreme during recessionary periods, the market is currently 15% below its moving average. Such extremes tend to precede short-term reversals and intermediate-term rallies, even in ongoing bear markets.
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