Facebook The New Market Leader?

There are times when I just sit back and watch what motivates traders.  Today was one of those days.  A few months back I read where there was a pattern (self fulfilling) where traders bought on Tuesday because the markets move higher.  I remember thinking how ignorant can that be – but the reality is that it has continued to happen.  Aren t the markets more sophisticated than that?  Don t analysts spend hours and days pouring over numbers and charts to determine value and what the next move will be?  I guess not – so again, I reiterate when a market moves in either direction based on emotion rather than fundamentals it is very likely a “sucker” move or in Elliott terms a “B” wave.  Remember computers don t have emotions the function within the parameters of the program running and until those parameters change don t expect the market gyrations to make economic or financial sense.  Despite the total breakdown in Facebook on Monday, traders returned on Tuesday to

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