What a 5% gap-up did next

How this is measured

A gap-up is a day whose opening print is at least 5% above the previous close. The fade rate is the share of those days on which the session's final 15-minute close ended below the open. Computed over the last two years across tracked symbols, from 15-minute bars. It is a description of what happened; it is not a claim about what a gap-up predicts. Past performance is not indicative of future results.