I do believe some traders already knew about the new covid variant late Monday.
They were selling since then but the other traders not in the know were buying dips late into Wednesday.
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They still didn’t know allot about this new variant, huge question , is’t resistance to the vaccination , if they announced this virus is resistance to the vaccine and natural immunity, the market will dip more than this
The variant was discovered on the 18th, so your theory certainly makes sense
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