In the market, sentiment is the most real, everything else is false.

The market usually goes through four stages and six types of emotions. I feel that the market is currently in the third stage, and the sentiment has entered the fourth type.

The four stages are: rebirth, excitement, euphoria, and crash.

The first stage is when the market recovers from the weakness of a bear market.

The second stage is when the market warms up, and buying begins to increase.

The third stage is when prices start to rise, everyone is in high spirits, but the market is somewhat volatile, and people become hesitant.

The fourth stage is when the market becomes extremely euphoric, speculators and large companies rush in, and a bubble starts to form.

These four stages correspond to six types of emotions:

First stage: Everyone thinks the market will not rise.

Second stage: People think the market will continue to decline.

Third stage: Prices rise, but everyone is a bit skeptical.

Fourth stage: Prices rise to the point where people start to believe it.

Fifth stage: Prices stagnate, but people are again doubtful about the rise.

Sixth stage: Everyone completely believes that the market will not fall.

Super bull markets often start like this: beginning from everyone's despair, moving forward with skepticism, rising to the point where people start to hesitate, and ultimately ending in euphoria.