FTSE May to June Ratio RolloverTable 14th May 2018
This could be a real humdinger of an expiry for the FTSE as we enter the rollover week.
The damage was done on the day of our last comment, the 9th, as both the oil and mining sectors added 3%’ish to push the index above 7650, which was then R3.
This couldn’t have come at a more inappropriate time as 7550 was the critical level, and it still is, as below here it is all Y ratio.
The only real change is the appearance of R1, which knocks both R2 and R3 out a bit, but the real issue is this index being in R3 with the rollover and expiry now in focus.
One saving grace may well be the zone could end up at 7450-7550, but this is still 200-points below where we are now, so hang on tight.
Range: 7700 to ….
One glance at the June Ratio Table above should tell you it’s a triple, and for the second biggie of the year it is already rather impressive.
Still a week to go but two aspects stand out already, the first being the zone here is already at 7350-7450.
The second aspect is that this index is already in B1 ratio, and that is a real problem.
In the triples going between the B ratio levels is quite normal, but to go into them not so much, so a really big week here as well.
Range: 7650 to 8050