FTSE & DAX Ratio Table 21st Dec 2017
The high in the FTSE of 7550.60 just simply does not do justice to how long this index battered R1 for.
And that was strike 3 as it has been going at it all week.
The only, but potentially very, significant change today is the jump in the NZ, well more of a hop really, as it is all within the Y1 ratio bandwidth as was.
So rather than the upper boundary being almost 100-points away at 7450 it is now just 25-points away, and if it gets back inside that then there is no ratio at all until 7400.
Range: 7500 to 7550
The DAX started optimistically with an open of up almost 30-points.
It didn’t get much higher and as we said it has a lot of Y1 to play around in so triple digit moves should be a minimum we would think.
However, with the low of 13026 this means it has met the upper boundary of its NZ, and significantly rallied to close above it.
So, big test today for the bulls, stay above the zone or will neutrality win over?
Range: 12950 to 13050 or 13050 to 13400
Type: On balance only just fractionally bearish