As expected, we got the rise in the
SPX’s zone to 2645-2655, but we rather doubt it is going to stop there.
When we last published, R1 was at 2715, and
today it has slipped to 2755, so all the while the ratios are receding above a
The fact that the ratios are building
below it make three bullish signs.
However, it has not really been about
this index this expiry, the DJX and NDX have been the limiting factors.
The huge Y ratio bandwidth remains a
stark warning of the susceptibility to a shock.
But, in the absence of any, there is little to worry about here, as anywhere for the expiry in the Y ratio would be fine, especially as it is in full-blown retreat.
to 2755 or 2785
Type: On balance bearish
The first triple witching has come
AND there is still almost 200-points of
Y ratio bandwidth.
So, shock susceptibility is as huge, the
only question is whether the R ratios above the zone will hold fast or start
Also, we anticipate the zone moving up to 2695-2705, the question is when?
to 2755 or 2780