SPX March to April Rollover 13th March 2018
When we last looked (8/03/18) at the SPX we were anticipating a move up in the zone and said under the right conditions even “2800 could easily be on the cards.”
So, the 47.60-point move up last Friday should not have held any surprises, perhaps a touch early but it certainly sets the stall out for this week, which is what it is all about after all.
No change in any of the ratios above the zone whereas below it we lose R1, so really all we are lacking is that move up in the zone.
The levels we mentioned last week are certainly still more than likely, but as a rank outsider 2795-2805 is coming up on the outside, which is worth noting.
Range: 2755 to 2805
Type: On balance only just bearish
One glance and you can tell in April we are back to an intermediary expiry.
In fact, as a triple March was rather underdeveloped, as revealed by no B ratios at all, so by default this expiry will struggle.
Nevertheless, the zone here has already shifted, and this should be a good indication for where March should be.
Otherwise the Y ratios stretching from 2670 all the way up to 2830, a truly massive 160-points, shows we could be in for a real rollercoaster ride.
Range: 2755 to 2830