It appears all very exciting in the FTSE but essentially going nowhere.
In fact once it sorted itself out at the very start of this expiry it has had just the one day outside its zone, and we are now into the third week….
There are no changes in any of the ratios, which sort of tells its own story, however the 7450-7550 tease to be the next NZ is back on, but it really would be a surprise if it actually happened.
Again we stress that it is the rollover next week and this is a triple so it would be a rare thing indeed if it stays this boring.
Range: 7350 to 7450
Activity: Very poor
Type: Not bullish
We have to feel a little sorry for the DAX as they certainly gave it their best shot but in the end were scuppered by the weak Street.
The open was only up 23 points and at 12125 still below the bottom boundary of their zone but they soon rallied and powered on up through it to the high, 12210, which is the centre of their zone.
About midday they came back to test 12150, the lower boundary and were fine until the US started falling, but rather magnificently held onto a positive close.
The only ratio to change is R2 reverting to 11850 but the ratios are weaker below the zone and firmer above it, bearish, and having tried and failed it will make for a tough day today.
Range: 11950 / (12050) to 12150