DAX Rollover, today’s ratio levels, table and comment

DAX Rollover Aug to Sept 18th August 2017

For the DAX it seems just getting back to its zone for the rollover on Wednesday was about as much as it could do.

The only change today is the reappearance of Y2 below the zone which just serves to highlight exactly how much minimal Y ratio there is here.

Although it is way too late don’t forget 12150-12250 was looking very likely as the next NZ at the start of this week and with Sept already there it was always going to face a difficult expiry.

Range:            19750  to  12250

Activity:          Poor

Type:               Bullish

The grey area is so difficult to analyse but we do say that sometimes the massively bigger Sept can exert a disproportionate influence even before it becomes the front month or alpha expiry.

How significant the close is being inside this zone is therefore difficult to determine but after spending almost all day of the rollover on Wednesday at 12250, the common denominator between the two zones, we suspect it is not a coincidence.

There have been no changes in the ratios today but the bulls we suspect will be very pleased to see this ratio configuration, and we again highlight the jump in the ratio at 11950.

However one word of warning is that so far the DAX seems to be the only one with this set up so again, like Aug, just the other way round, it could be on its own.

Range:           12150  to  12250

Activity:         Moderate

Type:              On balance just bullish