Aggressive FTSE, cuddly DAX , today’s Ratio Table, levels and comment.


FTSE & DAX Ratio Table 26th April 2018




It has been a while (20th April) since we last looked at the FTSE and as you will hopefully know by now the hedge ratios are a direct consequence of actual business done, and therefore evolve.

So please check our last post to see the previous ratio table in the FTSE as they have changed significantly above the zone.

However, we left this index finishing the April expiry at 7368.17, this placed it above R2 at 7350 with R3 waiting for it at 7450.

As you can see R3 hasn’t changed so when this index hit 7439.58, just 10.42-points, or 0.14%, away, it should have rung alarm bells.

Especially so had you read what we said about the US indices on Monday.

Regaining 7350 was good yesterday, but just 4 days ago this was R2, so it is running up a sand dune with the sand slipping away beneath its feet.

Range:            7350  to  7400 

Activity:          Very good

Type:              Neutral




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It has been even longer (18th April) since we covered the DAX but all things considered it has been the sanest index of the lot.

The ratios have developed considerably, hence the level of activity, but there is still a considerable way to go.

However, and we have now no way of knowing when the zone did actually move, but on Monday the low was 12466 and the high 12588, suggesting it was then at least.

Tuesday saw the market close at 12550 and yesterday it did very well to get back to 12422, both of which are or are close to either end of their zone.

Make no mistake with so much Y ratio around it certainly has the potential to move like the DJX, but at the moment it seems happy cuddling its zone.

Range:            12150  to 12450        or        12450  to  12550

Activity:          Very good

Type:              Neutral




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April 26th, 2018 by