This is the reason why the market rallies in the morning, and plunges in the afternoon? Individual investors often have daytime jobs (not related to trading), and its believed they place their orders overnight, often filled at the open or early in the morning.
it has to do with the fed and inflation the market is pricing in a rate hike and it does it in the afternoon after any positive econ data
Institutions have a rather high level of confidence in the market, retail investors are as bearish as they have last been Spring 2003: http://icf.som.yale.edu/Confidence.Index/CrashIndex.shtml
oh stock....cg is right amateurs own the open....the pros the close. Try not to outthink the situation. The fed and inflation have been around all year. This is what tops look like. The dipbuyers will get demoralized and then we can start to think about a bounce.
actually retail investors have been pretty bearish considering not many are not in the market and investor surveys showed mostly bears. And just look at this board, people calling market tops everyday and saying the economy sucks, do you really think most people are bullish?
Who is calling a top everyday? Everytime we go down for 1 day, the cheerleaders will backslap the first bounce! Who cares what the numbers are, the market wants to go down for the moment. React to what you see, not what you think.