DJX eerily zone compliant Apr, but Deja Vu in May, today’s rollover table, levels and comment.


DJX Apr to May Ratio Rollover Table 17th April 2018




Since we last looked at the DJX (11th April) it has hardly strayed far from its zone, which is remarkably well behaved for this index considering last year.

Although this expiry the zone started around 25000 it quickly fell to this level, where it has remained for the last fortnight, and is interestingly the same level it was throughout most of the March expiry.

Furthermore, the low last Tuesday was 24198 and the close on that Wednesday was 24189, which reveals a degree of sensitivity to R1.

The problem here is not so much themselves but rather all that Y ratio in the SPX, although it may be worth noting R1 above the zone doesn’t comes in until 25000.


Range:            24400  to  24600        or        24600  to  25000     

Activity:          Average

Type:               Bullish



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Scary feeling of déjà vu for us with the first look at May as just like April at this stage it’s all Y ratio below the zone until R3 suddenly appears.

Back then the DJX finished the March expiry at 24946 and April R3 was still at 24000 (nb. On the first day it had been joined by DR at 23700) and scarily by Thursday 23rd March the DJX had closed at 23957.

It then went on to go as low 23509 before the next three days resulted in lows of 23741, 23708 and 23728 and then these two levels pretty much dominated the following week as well.

However, what is different this time is the dearth of ratio above the zone.

Still a very long way to go but perhaps worth pointing out nevertheless.


Range:           24400  to  24600        or        24600  to  25500 

Activity:         Average

Type:              Neutral



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April 17th, 2018 by