Nov

19

EmmaMy daughter Emma came to me this morning and told me she could count from fifty backwards to zero. I sat and patiently witnessed her spit it out with little hesitation.

I did notice though, and light bulbs went off, that when she hit 41 through 39, and 31 through 29, there was a pause, but when she hit 21 through the teens the same pause was non-existent and she trucked it on down to zero.

She asked me to do the same thing from one hundred. I also paused at the 1-0-9 turns but not the 21-20-teens turn.

Could the markets have the same pause? Is there a natural tendency at round prices to halt, pause, take a breath?

Possible hypotheses abound. Easier to fall from 1540 to 1520 than from 1520 to 1500? Once 1500 is broken, smoother movement on through the 1490s?

We both tried counting fast and had less hesitation or pause on the way up, though, and that is where breath is taken in.


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