FTSE & DAX Ratio Table 9th March 2018
On Monday 5th March we took pains to point out in the FTSE that B1 was now 7050 so as the low that day was 7062.13 we will take that as a hit all day long.
Actually, on Monday we also pointed out that the zone could easily move to where it now has, 7450-7550.
Yesterday the market closed 150-points up from B1 but more importantly survived numerous attempts on what was DR but is now R3 at 7150, which is bullish.
It is now in the R2 ratio bandwidth between 7150 and 7250 but we must point out that this is only just above the threshold, and so by the end of the day will more than likely be R1.
Still with the zone now so far ahead next week could be a classic, so buckle-up.
Range: 7150 to 7250
It would have been nice for the DAX to hit one of our ratio levels before bouncing, but the trouble here is their open can cause big gaps before the dynamic delta can kick in.
This was just such a case on Monday 5th March when it opened down 82-points at 11831, deep into R3, hit the low of 11830 and has never looked back since.
A huge chunk of those impressively large put positions we highlighted in this expires rollover week (mid Feb) have now been undone, but this has happened while there has also been some impressive call action.
Now just shy of its zone, which it hasn’t been above so far this expiry, means all to play for, and the goal posts may have shifted as well.
Range: 11950 to 12450