The Smart money index (SMI) is a leading indicator of market and this index is plunging .SMI index is a technical analysis indicator demonstrating investors’ sentiment.
The main idea is that the majority of traders (emotional, news-driven) overreact at the beginning of the trading day because of the overnight news and economic data. There is also a lot of buying on market orders and short covering at the opening. Smart, experienced investors start trading closer to the end of the day having the opportunity to evaluate market performance.[citation needed] Therefore, the basic strategy is to bet against the morning price trend and bet with the evening price trend
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