In any event, many people who are inexperienced in dealing with investment markets (and even some who are experienced) tend to look for signs that they are right in the perspective of what is happening at any point in time. They look for reassurance about what they are thinking, or more correctly hoping, can be confirmed by one or more public facts about the markets.

In Behavioral Finance terms this is referred to as Confirmation Bias. Put simply, people favor information that confirms their beliefs or hypotheses even if such confirmations turn out later to be false indicators.

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