it is a big beast – there are big big players with billions of dollars trading the market every day
For Jan 30, 2019
|Share Volume||Dollar Volume|
|Number of Issues:||3,397|
|Number of MPs:||428|
Now for small time folk like me, the deluge of money and trading will overwhelm me. that is why i will not day trade. 2.5 billion shares are traded and i am not capable of knowing what is going to happen because my position can be wiped out in a min.
also total dollar volume is 129 billion
that is why end of the day price is so very important . why ? Because after all the fighting and back and forth snd trying to decide on the tug of war and over and over again money and stocks trading hands. at last they come to a market agreed price.
this is the price market has agreed, P/E ratios or sales figures or Forward looking EPS etc all the knowledge is finally found in that price. All the billions of dollars of super computers and auto trading and algorithms and quants have come up with this price.
and i should respect it.
2700 was a strong century figure resistance for S&P 500 and then for NASDAQ it is 7000-7200.
On higher volume both crossed that number yesterday at the end of the month
i am long on QLD and AMZN call.