Daily Close Methodology
DailyClose provides a standardized reference point for official market closes across cryptocurrency, equity, and forex markets. This methodology explains how daily closes are calculated and how session states are determined. DailyClose is a reference tool, not a trading signal or prediction platform.
What Is the Daily Close?
The daily close is the official price used to mark the end of a trading period and reset market bias. It serves as a reference point for comparing current price action against the previous period's closing value.
DailyClose calculates and displays these official closes to provide traders and analysts with a consistent, standardized view of market performance. The daily close is not a signal, recommendation, or prediction—it is a factual reference point based on official market data.
Crypto Daily Close (UTC)
For cryptocurrency assets (Bitcoin, Ethereum, Solana, Cardano, XRP), the daily close is defined as the price at 00:00 UTC. This marks the beginning of a new trading day in Coordinated Universal Time.
UTC is used as the global standard because it avoids exchange bias and provides a consistent reference point across all time zones. Cryptocurrency markets operate 24 hours a day, 365 days a year, making UTC the most neutral and universally applicable time standard.
The previous daily close represents the most recent fully completed UTC trading day. This value is calculated from intraday chart data that aligns with UTC boundaries, ensuring accuracy and consistency.
Equity & Index Daily Close
For traditional markets like the S&P 500 (SPY) and Dollar Index (DXY), the daily close follows exchange-defined settlement times. The S&P 500 uses the NYSE closing price at 16:00 America/New_York (Eastern Time), while the Dollar Index uses end-of-day settlement at 17:00 America/New_York.
These markets operate on weekdays only (Monday through Friday), excluding weekends and market holidays. The previous daily close represents the official closing value from the most recent completed trading session.
Different markets have different official close definitions based on their exchange rules and settlement procedures. DailyClose uses the official closing prices provided by market data sources to ensure accuracy and consistency.
Session State (Bullish / Bearish / Flat)
Session states are descriptive classifications based on the current price relative to the previous daily close. These states are calculated using a threshold-based system:
Bullish Session
The current price is more than 0.1% above the previous daily close. This indicates upward price movement relative to the previous close.
Bearish Session
The current price is more than 0.1% below the previous daily close. This indicates downward price movement relative to the previous close.
Flat Session
The current price is within 0.1% of the previous daily close (between -0.1% and +0.1%). This indicates minimal price change relative to the previous close, suggesting consolidation or stability.
Session states are purely descriptive and do not imply future price direction, trading recommendations, or market predictions. They provide a standardized way to describe current price action relative to the previous close.