Having closed at 13202 last Thursday we definitely thought it wouldn’t be able to hold still for almost a whole week.
Especially considering it had been on that 700-point journey between the two R1 ratio levels either side of the NZ.
The US markets may have risen 4.5% but here 700-points is 5.3%, but more importantly, and if you get the timing right, it is down to R1 (the open on day 1 of this expiry was 13211) then all the way up to the other R1 and then back to the NZ, so in fact it was a 1400-point move, or 10.6% AND in 4 weeks.
Doesn’t get as many headlines but it sure gets our vote.
Range: 13150 to 13250
In Feb the DAX is still struggling with the ratios above the zone.
This has not been helped as the zone here should dovetail with Jan’s but still hasn’t quite managed to make the move, and all the while it procrastinates it remains hard to build.
Interesting thought for you as if this index is as perfect in this expiry as it just has been, then the respective R1 ratio levels are 12950 and 13800, a mouth-watering 850-points, or 6.44% and if you get there and back again even better.
Range: 13150 to 13600
Type: On balance bearish