Simple question about "Buffet Indicator", but more like a question regarding the economic indicators in general.
Buffet Indicator = mkt cap / GDP
But as stated in the title, the market cap has daily frequency whereas GDP has at least quarterly frequency. This means that until the next quarter's GDP is announced, all daily market cap will be divided by the very same GDP announced before and on the date when the new GDP is announced in the end of the quarter, suddenly the denominator changes dramatically.
I feel like this kind of different frequency can cause big spikes on the bordering date, i.e: whenever the new GDP is announced.
Thus, a simple forward fill doesn't seem like a good idea. How do some indicators that mix up frequencies like Buffet Indicator stay relevant despite this flaw?