Haaaaa. Joke of the day!!! Market will return to all-time highs with help from a group hit by the trade war, Wall Street bull Ed Yardeni predicts https://www.cnbc.com/2019/05/18/us-...p-market-rally-to-all-time-highs-yardeni.html
Every trade is a prediction... You wouldn't go long if you expected (aka predict) the price to go down, would you?
Didn't you economists also said market is a leading indicator, not a lagging indicator? Current economic and financial conditions are not relevant?
Sorry, I really don't know what I am talking about. I am just a layperson, masqueraded as someone who appeared to know something.
Newbies / non traders predict where market is going, and enter trade without confirmation, ie trade entry based on crystal ball. And people continue to seek even more powerful crystal ball by doing very complex historical analysis, complex mathematical calculations, phd level inter and intra correlations, predictive models, and they use powerful workstations to digest tons and tons of world wide data. But some people use very simple crystal ball for prediction. Successful traders don't predict. They react based on chart pattern / price movement. Unsuccessful traders also react based on chart pattern / price movement. But they seek confirmation and double confirmation and triple confirmation till all planets are aligned. By the time they enter, too late. -----------
Current economic data (including financial data) are very much relevant to providing barometric *indicators* on the overall economy -- whether that data is leading (like, housing permits, rig counts) or lagging (new home sales, NGstorage).