FTSE table and DAX today’s rollover ratio levels and comment



FTSE Nov to Dec Rollover 15th Nov 2017



It was a surprisingly quiet day in the FTSE with it only managing a 40-point daily trading range.

The fact the low was 7396.92 means it was a long way from a test of R1 and the high of 7436.57 was also not close enough to class as a test of the bottom boundary.

However, as we hinted at yesterday, this index seems caught between the bottom boundary in November, 7450, and the upper boundary in December, 7400.

So, between a rock and a hard place which could ultimately achieve nothing, although it is within spitting distance.


Range:            7350  to  7450

Activity:          Very poor

Type:               On balance not bearish




And just to highlight what we have said above we get a very small change in December but nevertheless a very significant one.

It is by no means definitive but the loss of Y1 above the zone raises the uncomfortable situation that here the NZ may not move at all, cementing the significance of 7400.

There are still a couple of days to go and November may yet pull rank today, and if so and we get the market back above 7450 then it may well change the situation here again, but it is worth noting that this is not now a given.


Range:          7400  to  7550

Activity:        Very poor

Type:            On balance only just not bullish



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It is nice to see the DAX being a bit more energetic and this is exactly what we would expect to see at this point in the expiry.

The trouble is maintaining that level of excitement brought about by the natural increase in equity activity as a result of the rollover but at the same time keeping it all controlled.

Again, it came close, if it actually didn’t, test the upper boundary with the high of 13139 before bottoming at 13000.

The fact the close is just 17-points away from the bottom boundary (on a 13k index mind) means it is perfectly poised for today.


Range:            12850  to  13050       or       13050  to  13150

Activity:          Very good

Type:               Bullish





Well the December NZ has started to move but it remains in a sea of Y1 ratio and is still a long way away so is unlikely to influence anything at the moment.

What is probably more of an influence currently is Y2 residing at 13050.

However, the issue here remains the very lop-sided nature of the ratios and the continuing amount of Y ratio.


Range:           12850  to  13250

Activity:         Poor

Type:              On balance only just not bullish



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November 15th, 2017 by