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In search of numbers that don’t lie

The open, high, low and close numbers for a stock, futures contract or index calculation are objective. They cannot predict the future, but can hint at it

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    • On the floor of the New York Stock Exchange (above). The S&P 500 continues to make new highs despite growing evidence of stagflation.
    • On the floor of the New York Stock Exchange (above). The S&P 500 continues to make new highs despite growing evidence of stagflation. PHOTO: AFP

    Daryl Guppy

    Published Tue, Aug 5, 2025 · 07:04 PM

    IN a world of fake numbers, there is one set you can believe. Those are the figures of the open, high, low and close (OHLC) for a stock, futures contract or index calculation. They are available at the same time, and with objective certainty for every investor, trader and market observer.

    This is an unusual comfort in a world where the US’ Bureau of Labor Statistics commissioner is fired because the President Donald Trump thinks the published numbers were wrong.

    The OHLC numbers are the ultimate assessment of what is believable, what can be rejected, and what is guessed at in response to tariff policies, political uncertainties and presidential tantrums.

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