Except the vast majority of trades are done by algorithms who know no fear or greed. I would argue that these market movements themselves have very little to d

Except the vast majority of trades are done by algorithms who know no fear or greed. I would argue that these market movements themselves have very little to do with human emotion. Now the policy changes (higher or lower interest rates) that trigger certain trading however... Maybe that's what you meant? Even there you could argue that those decisions are not made on a whim nor are they based mostly on fear or greed. Now if we go one step closer to the root cause: (global) government over-spending for decades and insane risk taking in terms of self regulating financial markets (US). Now we're talking fear and greed, yes...