FTSE May to June Ratio Rollover Table 18th May 2018
This is a big miss for the FTSE this expiry and one definitely for equities, oils and miners in particular. Although corporate action also has this effect.
The zone didn’t change in the end, although 7450-7550 was but a whisker away and even the appearance of the “amber gambler” at 7700 didn’t hold much sway, but the market is way above both of these anyway.
So, from a potential “humdinger” we got probably the most boring rollover of recent times (net move over three days was just measly 10-points), and the expiry today could be just as drab.
Range: 7750 to 7850
Type: On balance only just bearish
“Come out, come out, to playeee” and they have, and what was an already impressive June expiry just went ballistic.
If equities won May we don’t think they will stand a chance in June.
The only issue is what does all this interest actually mean, and this is impossible to answer, as the only certainty from our viewpoint is that the baby-steps seen so far this week will probably become a distant memory rather quickly.
Range: 7650 to 7800
Type: On balance bullish