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Short term traders take Friday profits for fear of the weekend news. Used to be a measurable impact through the 1970s, but it’s lessened over time as algorithms perform more trades versus humans. It’s still observable to an incredibly small extent but will be waved off as being statistically insignificant. In my tin foil self observations, I still feel like fridays are more down days on average.
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The public isn't meant to know what causes fluctuations. We're not the ones making all the money.
There are many stories on how the institutions move the market up till mid day and then make money by selling