DJX Ratio Table, still all about the zone.

Nb. Comment from 05/06/19 (Not published online)

It has been a very long time since we last commented on the DJX, but eventually we are seeing those daily 200-point moves we have been expecting.

Of course, this was back in the last expiry, but as you can see from the above table the zone is still huge, so naturally we would be expecting the same in the May expiry.

The interesting part though, has been how close it has stayed to the centre of its zone, namely 26500, as in two entire weeks the furthest it has strayed is the measly 200-points.

Worth noting, the last fortnight closes in chronological order were, 26511, 26656, 26597, 26462, 26543, 26554, 26592, 26430, 26307 and 26504.

And we are already at the mid-point of this expiry, so the rollover actually starts next week, so we rather doubt things will remain so unadventurous.

Also, worth noting, is this index is very similar to the SPX, in that there is an awful lot of Y ratio should it test and breach its zones lower boundary.

This makes 2895 and 26000 both critical levels.

So, make sure and watch out for confluence, where they both test their respective levels at the same time.

Range:      26000  to  27000           

Activity:    Average     

Type:         Neutral

Nb. Comment on 05/10/19

Wow. In a word.

Never ceases to surprise do the ratios and when we last looked (6th May) we thought the zone was ridiculously wide then, so we just don’t have the words to describe what it is now.

Obviously, since our last comment, here in the DJX the crucial level was 26000, being the bottom of the zone back then, so Tue and Wed price action was very important.

The close on the 7th was 25965, so right on the boundary, and, as it turns out, crucial it was those few points on the wrong side.

Wed saw an intraday high of 26118, so nice try, but the close at 25967, again shows it on the wrong side, albeit just.

Of course, now it’s no longer an issue, and this index has an astonishing 2000-points of zero ratio to play around in now.

So, basically strap yourself in, as this combined with the rollover next week, means for us, quiet it won’t be.

Perhaps worth pointing out that activity is high because the benchmark is still exceedingly low, although with such a wide zone that’s pretty obvious.

Range:            25000  to  27000             

Activity:          Very good       

Type:              Bullish

May 10th, 2019 by