FTSE zone happy DAX coincidence or not? Today’s levels.

The FTSE did seem far more comfortable inside its zone and didn’t bother, or even look like it wanted to, chase the DAX higher.

In fact, the high was 7416.26 and as the upper boundary is at 7400 this was evidently enough to dampen any enthusiasm.

The low was 7326.67 which was getting close to being a test of the bottom boundary, but as this was courtesy of the auction, the real time close being 7333.03, then we are certainly not calling this a NZ bandwidth test.

Although, the big news here is the ratio below the zone dropping to R1, which also adds weight to 7150-7250 making moves to being the next NZ.

Range:            7300  to  7400 

Activity:          Poor

Type:              Bullish

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It was almost a repeat of the first 8 days of this expiry in the DAX, tried to race ahead, capitulation at the first sign of resistance and a recovery from the low to hold onto a toe-hold above the zone with the real time close of 13056.

The difference yesterday was the auction which took a massive 32.71-points off the index to leave it firmly back inside its zone.

However, this was not the biggest aspect that caught our eye as the real time close was exactly the same as Wednesday’s.

This has happened twice before recently (and it’s a really neat trick considering), on the 27^th/30^th Oct (13226) and the 7^th/8^th Oct (13393) and on both occasions the following day this index had huge moves, respectively 235.95 and 199.86. Just saying.

Funnily enough, on the first occasion the auction added 2.31-points and on the second it lost 10.68-points and no prizes for guessing which way the subsequent move went, so today should be interesting. Just saying.

Range:            12950  to  13050

Activity:          Poor

Type:              Bullish

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