Friday's Market Update (Dec 30, 2022)

31 Dec 2022 by rate3

Friday's NASDAQ was guided by institutional algorithms, again. After a bench of novices bought into yesterday's pseudo-rally, technical indicators showed a weakness and corporate traders sold the Index on the after-hours trading session (that is where infamous 'dark-pools' come into the picture).

Naturally, when amateur bulls woke up at the Friday morning and crawled back to their home-stations most of them found stop-losses activated. Because nowadays everyone knows that gaps are to be filled, the buying frenzy began shortly after 9:30 EST (usually it takes 10-20 minutes for amateurs to panic-sell) increasing corporate traders profits.

As a result NASDAQ jumped from 10324 (day's low) to 10418 within an hour (+0.9 percent), then retracted a bit on an early profit-taking and winded up the day at 10466 (+1.4), closing the gap almost perfectly. Corporates dominate the BTC trading as well, of course. Specially, during no-news days - both for crypto and for 'stonks' (Chicago PMI showing 7.7 points increase - to 44.9 - is non-consequential), when crypto plankton and the most part of shrimps are doing their day-jobs.

Basically, the same flock of persistent amateurs keeps trading both NASDAQ and BTC against professionals, simultaneously. It results in BTC often shadowing NASDAQ on vacant markets. Dec 30, 2022 is not an exception - BTC went from 16463 on the lowest to 16585 on the highest adding 1.3 percent.