Yesterday's thread deserves the logical follow up. Well, media said Omicron caused the market to drop yesterday. Ok, well, the markets are up nicely today. How come no financial media outlet is saying Omicron is now cured, since the market is just as green today as it was red yesterday? Because that would be ludicrous to say. As someone else said, maybe the markets dropped because of the Jamie Spears conservatorship developments.
This is a great lesson for investors and traders. Yes, news absolutely moves markets. But, I will reiterate to ignore all hindsight fluff news that tries to explain events after the fact. Today, the market is up because there are more buyers than sellers. Not because Omicron variant is now cured, which is supposedly why the market dropped yesterday. If it really was Omicron that caused the market to drop, the market would drop again today, because Omicron is not yet cured.
Since the market is up today, either the financial press was full of shit yesterday or Omicron variant is cured today!
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