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Strategies & Market Trends : Metastock 6.0 for Window -- Ignore unavailable to you. Want to Upgrade?

To: Michael Quarne who wrote (2761)	2/11/1999 9:37:00 AM
From: Sean W. Smith	Read Replies (2) \| Respond to of 4056

Mike, The actual data is computed by the index maker real time. for example say every 10 minutes during the trading day. The # is the formula computed for each components price at that time time. The high low for the day is then the high or the low of these #'s computed every 10 minutes throughout the day. These are the REAL #'s because the represent the acutal intraday high and low of the index. Theoretical #'s compute the index only once a day using the EOD #'s. So the high represents the EOD High values of all components fed into the index formula. Same for lows. This shows wilder price extremes as it was unlikely that all Dow Stocks actually had their high/low during the exact same period in the day. These represent best case/worst case scenarios versus the actuals highs and lows that the index actually acheived. Hope this makes sense. If you go back and look at QP thread. we talked about this for a month last september. Sean