FTSE a good fight with its zone upper boundary and DAX eventually tests Y2, today’s table, levels and comment.


FTSE & DAX Ratio Table 13th April 2018




Since we mentioned (Tue 11th April) in the FTSE “we would have expected a bit more of a fight at 7250” it has done nothing but.

So much so yesterday held this market in its narrowest range for ages, basically a few points either side of the upper boundary, which you may have noticed today is now R1.

Again, no disguising what it wants, just not quite the desire, and don’t forget R2 and R3 now come in quick succession if it does manage it.

However, the big issue now is the rollover and expiry next week, so it could be just a spike.


Range:            7150  to  7250        or        7250  to  7300 

Activity:          Moderate

Type:              On balance definitely not bullish



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We are happy to call yesterday’s high in the DAX of 12434 a test of Y2 at 12450 especially as it was at the end of a 152-point move up.

The real question is how aggressive they will be as so far all they have done is travel 650-points up through the minimal Y1 ratio over the last 5 trading days?

Again, with the rollover starting on Monday this index could expire anywhere as the zone could easily end up anywhere within that Y1 ratio bandwidth.

Basically, what a truly exceptional market as even after 4-weeks it still has a 1000-points of Y ratio, which is quite outstanding, but hold on tight nevertheless.


Range:            11850  to 12450        or        12450  to  12600

Activity:          Very poor

Type:              Bearish



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April 13th, 2018 by