I think it's time for us to have a rest after the trading time, Let's get a cup of coffee, you feel very comfortable and take another activities
mainly there are for working people after office hours who want to have a flutter after work. If you want to gauge the liquidity of a market, look at the margins of the market like micro caps and after hours trading, if nothing is going on there you know the main market cant be any better.
The logic you include in your question is commendable. For my part I do not think I could construct an explanation for you which didn't reveal what I do not consider it prudent to reveal publicly. Sorry. The only thing which I would say is that manipulation of the price out of hours can only be conducted by very large interests. This will only be done when these large interests are assured of the future liquidity available to them to close positions, and indeed that they are not working against other large interests who could thwart them. If we take the example of a gap in price at the beginning of the next regular trading session. Such after hours manipulation to affect a gap will only be conducted when certain interests see the value in doing so. Bidding a market on light volume after hours will only be conducted when there is sufficient liquidity available in the next session to offset those positions. Gapping a market up in a bear phase can be safely conducted when there is sufficient short interest to force liquidation at the cash open. I cannot take this further in public, however I am sure this is enough information for the serious aspirant to begin analysis....