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For the past two months or thereabouts I have been reporting flawed charts using the email facility in the ProRealtime software. Only one of the many charts that I have reported has been corrected. Listed below is just a fraction of the charts I have reported. You will see that some have been reported twice but to no avail!
UK Stocks
3rd April: CHG
25th May: WTAN, FEV, BTEM, MRO, TEM
27th May: RSW
13th June: RSW
14th June: JLT, FEV
22nd June: CRDA
US Stocks
8th May: CBOE
9th May: MRCY
15th May: ZION
20th May: CTSH
30th May: CBOE
12th June: AXP
13th June: CAT
14th June: VVC, CME, CMA, LECO, NJR, NWE, MMM
20th June: PG
23rd June: CBPO
This is the bunch of US stocks I reported yesterday i.e. 24th June: ARMK, ARW, BLL, FNF, FBHS, PAC, HAS, IPGP, MCD, MHK, NEE, PKG, SSNC, STE, TRU, WCG, YUM
My focus is on the US and UK markets, I estimate the percentage of stocks with charts with flawed data is at least in double digits. Far beyond the "one or two that escape the net" as has been previously postulated or as you have articulated " Due to the large number of instruments we offer we sometimes do miss some errors on charts." I understand that the same flawed data powers the new IG charts too! On that basis, I find it incredulous, almost bizarre, even surreal that so much work is going into developing the new charts when IG does not have a reliable data feed!! It seems very much like the cart is being put before the horse. In the context of any developments to the charts where indicators are a derivative of price (are there any that are not?) the old IT adage is very appropriate, "garbage in, garbage out"
Before I finished this post I thought I would go through the Dow Jones Industrial Index or Wall Street in IG speak to see how many defected charts would be revealed. The following is the result of that exercise:
MMM, CAT, TNH, GE, GS, HD, JPM, JNJ, MRK, NKE, TRV, UTX, UNH, VZ, MCD & PG.
More than half, i.e. 16 charts out of 30
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