I thought it was going to be like Robinhood where you would have the normal hours, but you could theoretically trade all night on low volume, but it wouldn't really move the stock. Like an extended AH period with the normal open and close.
Agree. Close and open cross will still exist at 930am and 4pm? I do not think nyse and nasdaq will give up the cross auction since that makes them good money
I expect with time 930 to 4 will disappear, some time zones will become more active, probably where the bulk of pro traders work and live. I imagine London and Hong Kong will spread the volume to their time zones (those trading US markets). I imagine retail traders in India and China may impact volumes too. I look forward to it because if I was serious enough about trading I'd have to be up from 10pm to 5am, and I'm not.
24 hour trading will be a disaster, It will be full of fake prints and attempts at market manipulation.
It wouldn't work unless options are also 24/7 which I highly doubt. We don't need more time. The gap(even though rare now) is one of the last things left. Unless the goal is to always just chop around all day and be stuck in a narrow range. Markets are already becoming less volatile anyways with volatility nearly gone for good (it appears for very short time periods and then is gone for months or even year+). People say it would create more of a casino, but I see the opposite. It will ensure further that the market won't ever go down. The gap at last allows it to fall overnight, before the dip is often bought and V is made. Imagine if those gaps disappeared. Would be a disaster for many traders. Enjoy watching the market just chop around if this were to happen. I still don't think this is the plan.