Why does SPY hourly show a gap, but not daily on Jan 30, 2018?

Discussion in 'ETFs' started by FireWalker, Feb 7, 2018.

  1. See attached screen shots.
    SPYHourlyGap.png SPYDailyNoGap.png
     
  2. Can someone explain why SPY's high on Jan 30th was 284.74, but the highest trade intraday was 283.29?

    See 5 minute chart:
    SPY5Min.png
     
  3. I think the answer is: someone didn't want an unfilled gap on the chart.

    That was either some quick thinking or pre-planned.

    How else can you explain a High with no trades intraday?
     
  4. 284.74 is the High on the daily.
    283.29 is the highest I could find intraday.
     
  5. tomorton

    tomorton

    I suspect its where the data for the higher time-frame is drawn from. On real-time charts from my provider, e.g., the last 4 hourly bar of each day starts at 2200 and is labelled as a H4 bar for that date. But it closes at 0200 on the next day. If a new high prints within a bar that bridges midnight, which day does your provider allocate this data to? From where do they draw the daily high etc.?
     
  6. SPY is NYSE, so charts don't normally show data outside that exchange.

    I'm seeing the same data on tradingview and yahoo.
     
  7. It shows a little better on Yahoo.

    High of 284.74 on the daily, but the highest trade all day was 283.29.
    YahooSPY5Min.png YahooSPYDaily.png
     
  8. We have an unfilled gap in the S&P. Very rare. Very bearish. Despite the data error in SPY, the gap does show on SPX.