FTSE & DAX Ratio Table 13th April 2018
Since we mentioned (Tue 11th April) in the FTSE “we would have expected a bit more of a fight at 7250” it has done nothing but.
So much so yesterday held this market in its narrowest range for ages, basically a few points either side of the upper boundary, which you may have noticed today is now R1.
Again, no disguising what it wants, just not quite the desire, and don’t forget R2 and R3 now come in quick succession if it does manage it.
However, the big issue now is the rollover and expiry next week, so it could be just a spike.
Range: 7150 to 7250 or 7250 to 7300
Type: On balance definitely not bullish
We are happy to call yesterday’s high in the DAX of 12434 a test of Y2 at 12450 especially as it was at the end of a 152-point move up.
The real question is how aggressive they will be as so far all they have done is travel 650-points up through the minimal Y1 ratio over the last 5 trading days?
Again, with the rollover starting on Monday this index could expire anywhere as the zone could easily end up anywhere within that Y1 ratio bandwidth.
Basically, what a truly exceptional market as even after 4-weeks it still has a 1000-points of Y ratio, which is quite outstanding, but hold on tight nevertheless.
Range: 11850 to 12450 or 12450 to 12600
Activity: Very poor