FTSE high-stakes expiry, DAX in its zone, today’s ratio table, levels and comment.



FTSE & DAX Ratio Table 24th May 2018




The only ratio to change in the FTSE since our last note on May 18th is B1, which has slipped from 7800 to 7850.

Historical now of course, but Monday did the damage, closing above 7800, but Tuesday was the decider.

The low was 7854.58 and the high 7903.50, which was most certainly a test of B2 at 7900, as that hasn’t changed, and was most probably a B1 bandwidth test, which would by definition lead to the breakout seen yesterday.

It is still incredibly aggressive for the FTSE, but it is now in a 200-point wide DR ratio bandwidth, so plenty of scope, and those “baby-steps” days are most certainly over, but there are some huge positions which will dictate this expiry for sure.


Range:            7650  to  7850 

Activity:          Moderate

Type:              Bearish



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No change at all in the DAX ratios, which is rather unusual as it was Thursday 17th May we last commented, which is normally the busiest period for this or any expiry, being over the expiry.

And the activity was certainly there, as you can see below it is right at the top end of the scale, so it is a very rare beast indeed when you get very high activity with no change in any of the ratios.

Don’t forget this is a triple so that is high activity when the benchmark is already very high.

No wonder it has sought refuge in the safety of its zone.


Range:            12950  to 13050

Activity:          Very strong

Type:              Neutral




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May 24th, 2018 by