Intraday trading studies
Questions traders ask about the open, gaps and the close, answered with counts from TraderPier's market data. Each one has an example day you can replay.
- Does the first 5-minute candle set the high or low of the day?
On SPY, QQQ, IWM, Apple, Microsoft, Meta and Nvidia it did in 42.4% of 6,146 sessions since March 2023. On SPY alone it was 24.9%.
- How big is the first 5-minute candle compared with the rest of the day?
On SPY, QQQ, IWM, Apple, Microsoft, Meta and Nvidia since March 2023, the median first 5-minute candle was 4.0 times the size of a midday candle.
- How often do stock gaps fill the same day?
Of 2,846 opening gaps of 0.5% or more on SPY, QQQ, IWM, Apple, Microsoft, Meta and Nvidia since March 2023, 41.8% filled the same day.
- How often does Nvidia fill its gap?
Of 626 Nvidia opening gaps of 0.5% or more since March 2023, 47.3% traded back to the prior close the same day.
- How often does an opening range breakout hold?
Of 3,903 breaks above the first 30-minute high on SPY, QQQ, IWM, Apple, Microsoft, Meta and Nvidia since March 2023, 54.0% closed the day above it.
- How often does QQQ fill its gap?
Of 363 QQQ opening gaps of 0.5% or more since March 2023, 34.4% traded back to the prior close the same day.
- How often does SPY fill its gap?
Of 231 SPY opening gaps of 0.5% or more since March 2023, 26.4% traded back to the prior close the same day.
- What time of day do stocks make their high and low?
On SPY, QQQ, IWM, Apple, Microsoft, Meta and Nvidia since March 2023, 56.1% of up days made their low in the first half hour after the open.