People have recency bias.
I believe this is hardwired.
It is hard to get around.
When the tape get whippy and rampy like this, people get stopped out of positions, 2 or 3 times, then they reduce their position size or tighten stops even tighter, or they sit out.
The market has "classic deception" moves and setups.
We are in one of them.
I predict the move is down big on US equities.
As per MarketSniper--The Market will act so as to cause you to act against your best interest.
Don't be deceived.