Mch NDX no record but explains why, and Apr is worse, or better? Today’s rollover table, levels and comment.


NDX March to April Rollover 14th March 2018




To be honest we are a little disappointed in the NDX, although perhaps not for the obvious reasons, but rather the fact that at the very last knockings R1 has appeared.

Essentially this takes away the record, which would have been for the least ever ratio populated expiry, or in other words an entire expiry with only Y ratio.

However, the fact it has come in at 7300 means it hardly qualifies in our estimation being so OTM.

Although at the end of the day it does explain why this index, which closed at 6770.66 at the end of the last expiry (Feb), has been on a colossal 415.43-point journey in the last 4 weeks, an impressive 6.14%.


Range:            6825  to  7100

Activity:          Moderate

Type:              On balance bearish




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Even if March had got the record, which it probably has, then we suspect it would not have been for long as not only is April an intermediary but it is also a 5-week long expiry.

And if it took March until week 4 to start adding strikes (20 odd for the record) then April is looking good for the first expiry in an exceedingly long time to start without a single added strike.

If this index continues to be unloved and ignored then March’s journey could prove to be just a gentle warm-up with only Y1 present and even the zone is 75-points wide the ratios are so low.


Range:            6850  to  ….                    

Activity:          Average

Type:              Neutral     



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March 14th, 2018 by