FTSE still zone happy, DAX back to usual? Today’s levels.

It didn’t require nearly as much effort on Monday to keep the FTSE in its zone, and as we said it seems perfectly happy here.

However, with every other market forging ahead this index was notable for its distinct lack of enthusiasm.

As one can see the appearance of DR below the zone just shows the ratios continue to weaken here which raises the possibility of 7150-7250 making a move to be the next zone, and this would certainly hold things back.

Don’t forget it is rollover next week, so if you think this is exciting then hang on tight.

Range:            7300  to  7400 

Activity:          Poor

Type:              On balance only just not bullish

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That answer that about how the DAX is going to react having found itself in bear territory over the weekend.

The open alone put on 177-points and after the initial exuberance that took it as high as 13117 it settled down and spent most of the day around their upper boundary.

A little bit of strength in the ratios below the zone and slippage in those above but really the question is whether or not this now re-establishes the holding pattern we saw for the first 9 days of this expiry?

Range:            12950  to  13050       or         13050  to  13250

Activity:          Moderate

Type:              Bearish

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