FTSE and DAX today’s rollover ratio levels, tables and comments

FTSE Rollover Ratio Table 20th Oct 2017

This week the auction in the FTSE has been very prominent so after 4 days of rather significant moves down, yesterday we saw a bit of blue for a change.

It was only 4.09-points but we felt it was worth mentioning not only as it bucks the recent trend but being away from 7550 probably/possibly also helped?

This is the expiry and the only thing we can add is that our amber gambler has returned and so we repeat what we said last week that it looks like the goal is 7500.

Range:            7450  to  7550

Activity:          Average

Type:               On balance only just bearish

We have felt for a while now that November was a better reflection of where Octobers NZ should be, and if we do see a day centred around 7500 then this means the FTSE will open Monday back inside its zone.

This is definitely a case of wait and see but is in stark contrast to how the last expiry ended, which could also mean a return to the September expiry format when it never even left its zone the entire time.

Today we have lost Y1 below the zone and Y2 above it, so the ratio noose is tightening for sure, but again with any Y ratio present it is still in stark contrast to the one we are now leaving behind.

Range:          7450  to  7550

Activity:        Strong

Type:             On balance fractionally bearish

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DAX Rollover Ratio Table 20th Oct 2017

All a little too late in the DAX and what stopped the NZ from becoming 12950-13050 was the strange activity yesterday because it was back on track today and just missed changing by a whisker.

However, it doesn’t really change anything as even by the minimal Y1 standards the ratios around the market are closer to zero than anything else.

Still it has been an epic rally here but we can’t help but feel it has dodged a bullet as it did its tightrope walk along the edge of a cliff, but it has got away with it.

Range:            12850  to  13250

Activity:          Average

Type:               Bearish

The November expiry is not coy about changing, which after all is sort of the preserve of the rollover, and in fact this one just looks like a stepping-stone to 12950-13050.

More importantly quite a few of the ratios have strengthened either side of the new zone, but no greater depth of yet.

However, if this index continues to prove sensitive to just R1 then it probably doesn’t need anything higher, although to be reacting to just this degree of ratio is unusual and not something that we would like to rely on.

Range:           12850  to  13250

Activity:         Strong

Type:              On balance just fractionally bullish

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