FTSE and DAX today’s ratio levels and comment


At the risk of being accused of laden sarcasm in the FTSE at least it was a 33-point daily range, so they are trying to make it interesting.

Sadly no one in the derivative side seem to be buying into it and although activity is an improvement it hasn’t changed anything, or even look likely to.

Again, finishing so close to the centre of their zone is as neutral as one can get so no reason to change our view at all.

It is a shame as there is still some decent Y ratio below the zone and with that wall of ratio at 7650, where it jumps a staggering 3 levels, it is almost a travesty not to see this at least challenged, but it looks a writers’ expiry sadly.


Range:            7350  to  7450

Activity:          Moderate

Type:              Neutral


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Just to repeat what we said yesterday as this index was actually closed but that is definitely strike 2 in the DAX on R1 at 13250 as the high was 13255 on Monday, and it actually had a little nibble at it in the morning getting as high as 13246, so it knew what it was doing.

If it goes back today this would be strike 3, but R1 has slipped anyway and this has also pushed R2 out a notch as well.

This coupled with the strength in the ratios below the zone are both bullish, but as we mentioned R1 stopped this index in its tracks last expiry and it doesn’t look any more aggressive this time round, so it could just have to resort to tailgating it (like the SPX last expiry).

However, we should just mention the activity as although not dramatic it was very directional.


Range:            13050  to  13300

Activity:          Good

Type:              Bearish


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November 1st, 2017 by