FTSE and DAX today’s ratio levels and comment

Ah welcome to the Dec expiry as the FTSE blasts out of its NZ, or to put it another way its comfort zone.

It did hold it back for a while, about an hour, but right on the stroke of midday it took off, and above the zone had turned R1 as well.

Any other expiry we would call this punchy but for the mighty Dec more often than not it doesn’t concern itself unless it’s DR and above.

However, it was hardly a convincing break, in the end just 11-points, but it’s a start and now leaves it in the R1 ratio bandwidth.

Range:            7400  to  7550 

Activity:          Average

Type:              On balance bullish

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No impression about it that is just plain aggressive from the DAX.

However, that is all the easy yards now as it got as high as 13209, just spitting distance from R1.

It has taken on R1 in last few expiries but found R2 difficult to cope with although its reaction was generally annoyance rather than retreat.

But this expiry R1 is backed up by the full spectrum of ratio starting at 13250 so it is definitely game on now.

Range:            13050  to  13250

Activity:          Average

Type:              On balance bullish

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