FTSE and DAX today’s Ratio Table, levels and comment.
No doubt the
Dec expiry in the FTSE was a miss, but considering the pressure it was under
from the collapsing US it did rather well in the end we thought.
To put it
into perspective London lost 135.54-points last week, 1.98%, whereas the DJIA
gave up 1655-points, or 6.87%.
that will have hurt.
forward into Jan, and no surprise here but all eyes will be on the other side
of the pond.
But, if they
manage to sort themselves out, the FTSE has 400-points of Y ratio bandwidth to
go banana’s in this trip.
That is, on the assumption that the R ratios will be enough to hold the tide.
to 6700 or 6700
For the DAX
most of what we said for London holds just as true, but here the last week’s
fall was 232-points, or just 2.14%.
When we last
looked at this expiry, and we didn’t actually publish, but suffice it to say
activity has been very high, even though if you were looking at the resultant
ratios you wouldn’t have thought so.
changes are the appearance of some Y ratio below the zone and R1 above it.
And, this is
really the crux of the matter, as the Y ratio bandwidth here is a massive
also add in the fact that the ratio only goes as high as R1 above the zone,
then that is not a high hurdle really, more of a speed bump.
Again, the issue is with the Street, and if they sort themselves out, and the higher ratios here below the zone prove effective, then there is enormous upside potential here.