DJX May to June Ratio Rollover Table 15th May 2018
When we last looked at the DJX (10TH May) it was all about whether it could break up into its zone.
And if by magic that very day it opened at 24591, right on the bottom boundary, and then went as high as 24794, so not only did it break back in but it also achieved a zone bandwidth test.
That normal precedes a breakout so the surprise the next day was not the close at 24831, but rather the lack of conviction.
Very simple ratio levels now to bookmark, but we suspect the main aim now is to stay around its zone for the rollover and expiry.
Range: 24800 to 25500
Type: On balance only just bearish
The June DJX is just not helping matters, and that’s not just because of where its zone is.
When one looks at the bare numbers then it is not a pretty sight, especially with the Delta Ratio standing at a very bearish 226.2%.
However, when one see’s how the ratios are distributed it becomes clear that 26100 is bit of a watershed.
Ordinarily we would call this a line in the sand, but we have seen this before, at the start of 2017, and then, as we correctly guessed, was that because of its unique make-up it is very probably the minimum target, so could be a very interesting expiry starting next week.
Range: 24300 to 24900 or 24900 to 25100