We will have to see have the next few days progresses. Supply won out the day in yesterday's trading, not only as the value of the S&P 500 decline by about 30 basis points, but as the demand apparently withered, as shown on the price/volume heat map below.
That said, overall volume levels were light. I would suspect that barring any major news events, that market volumes will remain on lighter side until September 18, when the Fed answers the will they, won't they, and by how much questions around the taper question. In any event, low levels of liquidity will also pull up the volatility of prices. We should probably expect wide price swings over the next few days.
That said, overall volume levels were light. I would suspect that barring any major news events, that market volumes will remain on lighter side until September 18, when the Fed answers the will they, won't they, and by how much questions around the taper question. In any event, low levels of liquidity will also pull up the volatility of prices. We should probably expect wide price swings over the next few days.
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