Hey guysI have a question which i thought was best asked here. I...

Hey guys

I have a question which i thought was best asked here. I am a strong believer of gap theories and i think gaps play a large roll in where a stock will head.

When we are charting indexes though, gaps are not truly shown, because of the way the indexes are calculated (IE using close of previous day, until the stock opens) we dont get a true value of where the index actually opened.

Does anybody know where to get this info from. I think for the XJO the best way to do this would be to just take the opening price of all the stocks and calculate from there. I suppose it would be very similar to the index at 10.10 when all stocks have opened.

But for charting this is a nightmare as i dont think our index charts show the true opening figure and the gaps that are actually present. i mean over the last few weeks we have been having 2% leads from the US, and there is barely any gaps present.

Does anybody know a way around this? A charting package that discards the first 10mins, or actually works out what the index opened at by calculating it on each share price?

Good thread as per normal