The algos love momentum and volumes Now we know that its the same people investing in gold with momentum algos that are pushing up the market, gold down $30 and the Dow up 700. My thoughts, look at the gold chart just befor opening.
So this is an opportunitistc market and a momentum market, not long term or value oriented
Money moves very quickly and the economic data of this morning, even if it means no rate hike for now, really is algo algo algo and soon those up sectors of today will correct fast , too fast and too much money is being poured there. - Trillions on the basis of an a small interest rate pause , not fundamentals
In the next round of correction watch the algos target precious metals when they re- progam the algos better - they dont look at future supply this year in copper for example. Its just AI folks and AI does not look at why there was a net loss (ie extrordinary item ) and other stuff.
But we do so stick in there.