How much weight do traders put on the overnight movements in the US and or Europe.
When reviewing these movements in the morning what should novice traders look for and how these may effect the Asian markets.
For example last night the SPX500 went up 0.62% yet we finished the day down almost as many points the opposite direction on an index half the value.
How do traders prepare themselves for this?
Another comment I would like to make is the difference in the peak of the US and Aussie markets and how far each of them has retraced from their highs. Is it right that we have fallen approx. 10% further. Why would this be the case?
Plus to all you technical traders out there at what point would we be looking at the least at a short term rebound and to what level would the XJO index likely move too before another leg down...