FTSE and DAX today’s Rollover ratio levels and comment


The FTSE is certainly coming to life and just in time for the rollover.

On Friday we did think the bottom boundary would put up more of a fight but the market just powered down through it with the biggest bar of the day by a long shot.

Of course, it is no stranger here so it knew what to expect but it does at least make the target for Wednesday a bit more of a challenge.

The ratios are easier below the zone but 7350 is still R1 but not by very much.


Range:            7350  to  7450

Activity:          Average

Type:               On balance not bearish




The first look at the Dec expiry immediately throws up an issue which is the NZ being at 7300-7400.

Upon closer inspection the Y1 ratio is a good indication that it is likely to move up and should dovetail with November, however until it does or even if it does then this will remain a big problem.

The second most obvious aspect is how much more ratio there is above than below which again is not bullish.

However, it does highlight just how massive this expiry really is.


Range:          7400  to  7550

Activity:        Poor

Type:            Bearish



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And at last the NZ has moved up in the DAX and rather neatly has met the market coming the other way.

It has had a rather torrid week of it but considering how much minimal ratio there is still around we are actually surprised by its calmness.

The real question is going to be whether this will be it until Wednesday or will the zone continue to move?

There is so little ratio then this is very probable which also means this market could also go a long way either way, so it will be quite astonishing if it does all stay like this.


Range:            13050  to  13150

Activity:          Moderate

Type:               On balance only just bearish




The DAX December expiry does not make for good viewing if you are a bull that is.

Strikingly the NZ is all the way down at 12550-12650 but with so much Y ratio about we very much doubt it will stay there for much longer.

However, the second most striking aspect is the lack of ratio below the zone made all the more apparent by the abundance of it above the zone.

Still early days but this looks very bearish.


Range:           12650  to  13250

Activity:         Average

Type:              On balance just bearish



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November 13th, 2017 by