FTSE and DAX Ratio Table 23rd Oct 2017
The last two days have seen the FTSE’s ratio table come on in leaps and bounds and despite all the changes here we are at the start of a more normal 4-week expiry with some Y ratio still present.
The big question is going to be what sort of expiry are we in for, a repeat of Sept when it never left its NZ or more like Oct when it traded between the two R3 ratio levels?
Today will go a long way in determining this we suspect, as again on Friday it tested 7550, which was R2 in old money and the upper boundary here.
After an amazing 9 days knocking or perhaps hammering on that door now it’s on a new trip it should have another pop at it and how it reacts will be crucial.
Our best guess is that it will hold, and if history is anything to go by we should also see a test of the lower boundary this week and then it will make up its mind.
Range: 7450 to 7550
Type: On balance fractionally bearish
The DAX’s NZ has moved up to 12950-13050 but after all our comments everyone should have been thinking it had already we suspect.
Interestingly the high and low on Friday was 13063 and 12956 and we are not great fans of coincidence so we further suspect it has already been in the fray.
However, the big news quite literally is the level of activity, and more importantly that it wasn’t all one-sided.
Nowhere near as exciting as it was just a day ago but our range for this expiry is still a rather tantalising 12650 up to 13250.
Range: 12950 to 13050
Activity: Off the scale
Type: On balance bearish