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By: Maria Popova A vibrant dance across the global spectrum of the popular imagination.
“Legendary lands … have only one characteristic in common: whether they depend on ancient legends whose origins are lost in the mists of time or whether they are an effect of a modern invention, they have created flows of belief,” Umberto Eco wrote in his illustrated meditation on imaginary places. But as much as fictional lands might hold enduring allure, what captivates our shared imagination even more are the fictional and mythic creatures of our cultural folklore, both ancient and modern.
The market has three movements (1) The "main movement", primary movement or major trend may last from less than a year to several years. It can be bullish or bearish. (2) The "medium swing", secondary reaction or intermediate reaction may last from ten days to three months and generally retraces from 33% to 66% of the primary price change since the previous medium swing or start of the main movement. (3) The "short swing" or minor movement varies with opinion from hours to a month or more.
The three movements may be simultaneous, for instance, a daily minor movement in a bearish secondary reaction in a bullish primary movement.