THE LATE MAJORITY/GREED PHASE

Sentiment moves in stages in this phase. From neutral to bullish and to downright euphoric.During this stage, the late majority jump in, having realized the party has begun. Volume increases substantially and price also goes up as logic and reason take a back seat to greed. As the late majority are entering so also the smart money are unloading. After this time, price begins to slow down, those who has been sitting on the sidelines see this as buying opportunity and they jump in en masse.As this is ongoing, prices make a last parabolic move known as sell climax in technical analysis; this is where the largest gains often occur in the shortest period. 

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