sweetandsour wrote: ↑13 Dec 2022, 07:51
Del wrote: ↑13 Dec 2022, 06:02
Inflation numbers not looking too bad this morning. Slightly less than expected, even.
Mr. Market is very pleased in pre-market trading.
We'll see what tomorrow's FED rates and comments bring.
The after hours trading really hacks me off, generally. Pre-market too sometimes.
Really? Don't take it personally.
Late market trading is often low-volume, so it doesn't tell us as much as regular trades. But sometimes the night trades tell us that something is happening in foreign markets (Europe, Asia) which will move the opening prices in America.
A lot of American economic news drops an hour before the markets open.
Our problem is that Mr. Market is bipolar and off his meds. The inflation news was good, and rational investors said BUY. The opening price gapped up nicely, and indexes traded up.
But 30 minutes into the trading day, the panicky investors started taking profits. At 10:30, Indexes are trading below opening.... but still higher than yesterday's close. All the same, I didn't expect to see a dark candle after this morning's opening.
Tomorrow (Wed).... Fed press conference in the afternoon. Expect some serious volatility in the late afternoon as investors jump on every comment. Hopefully the Fed will talk about easing up on interest rate hikes as inflation appears to be cooling.
XLE is holding it opening price gap (YAY!). Tech sector is leading today's drop.