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The underlying issue here isn't retail behavior; it's that we're in an unprecedented macro environment where traditional signals are breaking down. When you have the fastest rate hike cycle in modern history followed by stubborn inflation alongside mixed economic signals, even seasoned investors are struggling with whipsaws. What looks like emotional trading might actually be rational responses to genuinely conflicting data. The market hasn't figured out whether we're facing a soft landing, hard landing, or no landing, so volatility in sentiment is perfectly rational given the uncertainty.