FTSE & DAX Ratio Table 8th Dec 2017
Of course, it is not an identical pattern in the FTSE with the November expiry but it is not that dissimilar either.
Last trip was also all about the comfort or safety of its Neutral Zone and having spent the best part of the first three weeks inside it from the Friday before the rollover it sprang to life.
So, best be on your guard as although this time we really don’t detect any hints of frustration this is actually what can cause a breakout, that and perhaps an out of sync zone in the next expiry.
Range: 7300 to 7400
Activity: Very poor
For the DAX we are back to the familiar pattern but it seems to have lost a lot of its aggression after its trip below the NZ and into bear territory.
The open was moderately higher, but at 13026 was still inside its zone, but then it managed to break back above the upper boundary getting as high as 13083.
This didn’t last long and for the rest of the day it meandered around in its NZ, but the bulls are there, hence the close, just not quite confident enough.
The only change is R2 below the zone but after 3 weeks we eventually see R3 scrape in down there as well, so way to go but hardly emphatic.
Range: 12950 to 13050 13050 to 13250
Type: On balance bearish