Email of the day (2)
Comment of the Day

September 21 2010

Commentary by Eoin Treacy

Email of the day (2)

on weekly chart construction
"Another observation about continuation charts that does not make sense. I understand that on daily charts you have the end of day data, what I don't understand is that on Monday of the start of the week on the weekly chart you have Monday's close as Friday's close which is plain wrong-how do you know what the closing price on Friday will be-is this not misleading? Or is this just a symptom of the Bloomberg feed and there is nothing you can do about it?"

Eoin Treacy's view Thank you for this question which I'm sure will be of interest to other subscribers. We depict intraweek data as it occurs, so on Monday we will show Monday's open, high, low and close on the weekly chart because that is all the data we have available. As the week progresses we retain Monday's open as the opening price for the week and adjust the intraweek values for high, low and close. At the close of business on Friday, the candle is completed with Monday's open, the intraweek high and low and Friday's close. This same procedure is followed for every instrument in the Chart Library.

Back to top