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 9.2  Market News and Mass Psychology
CNBC and other financial news media provide useful information, but since they are required
to fill every hour (or every page) with something, much of what they deliver is unavoidably noise.

Daily short-term data, often labeled as "breaking news", is not generally relevant to a long-term
investment strategy.  It's more like static to the signal and is one kind of market noise.

Financial media also presents a stream of expert opinion on what is going to happen next,
based on their breaking news.  These experts can offer good insight into historical market
behavior if you listen with that goal in mine, but their predictions are irrelevant  Nobody knows.

I use the chart of TQQQ (or any other stock) to observe the fluctuation of it's moving average
within it's Bollinger Band as a guide on how the mass of investors affects the market.
This is also known as mass psychology.

The patterns between prices, volume and open interest reflect the mass psychology of the market and the prices are based on them.  Each price represents a monetary consensus of value between sellers, buyers and undecided
traders when a transaction takes place.  There is a crowd of traders behind every stock's pattern.

You can learn more about Trading Psychology from a link below this subject by Investopedia.
https://www.investopedia.com/terms/t/trading psychology.asp#:~text=Trading%20psycholoy%20is%20the%emotional.that%miht%20be%20too%20risky

I think the below sentences are from a Knowledge Academy on an introduction to Trading Psychology

According to experts, successful trading is a result of 30% strategy and 70% of understanding Trading Psychology.
So, if you are capable of handling your emotions and makin full use of Trading, then progress is not far for you
in the trading world.    Oct. 2024

The behavior and beliefs of large groups of people, also known as crowd psychology, profoundly influence market
trends and price movements.  This is because the collective actions and emotions of market participants can drive
prices up and down, creating observable trends in the market.