FTSE and DAX today’s ratio levels and comment


Tuesday was the day the FTSE diverged from the DAX and it was very apparent from the very start as this index hit its upper boundary at 7400 from the off and fought until it had broken through.

This only took 40 minutes but in the meantime the DAX had done a NZ bandwidth test.

This is where it wanted to be but it needed help (bank sector) and without which today it will be the real test of whether it can cope in R1, or wallow like before and slip back to the upper boundary.

All the while DR waits in ambush.


Range:            7400  to  7550 

Activity:          Very poor

Type:              Bullish



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The DAX started off like a caged animal as it came up against its upper boundary first thing, hitting 13053, then it sprinted down to the bottom boundary before recovering and all in the first 40 minutes.

After that it just camped out on its upper boundary and to us it looked like it had accepted its captivity so to see it finish above its zone, albeit by just 8-points, seems a bit out of character.

Incidentally this is the exact same close as on Friday, and in fact the first day of this expiry, Monday 20th Nov, the close was 13058, so it has been exciting but has in fact gone nowhere.

No change in any of the ratios so it is just down to desire (and the open of course).


Range:            12950  to  13050       or       13050  to  13250

Activity:          Very poor

Type:              Bearish



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November 29th, 2017 by