NDX June to July Ratio Rollover Table 14th June 2018
As we said in our last comment on the NDX it “was clear skies above”.
At that point this index was at 7166.75 and already boasting a 300-point move, but it was now in Y2 ratio.
This evidently slowed the rate of climb as it stalled around 7150 for that week, only getting fruity again on Tuesday, two days ago.
The zone has moved, inevitable in such a miserly ratio populated expiry as this, as was the market move, and again, we can only report on what’s there, and if that is tantamount to zilch this is the result.
Range: 7175 to ….
Type: On balance bearish
And a bit of a surprise for July is that there is some R1 ratio already present.
Considering this is only an intermediary as well as being a 5-week expiry then this is actually good going, especially in the context of how poor the last two have been.
However, it does look a bit like insurance considering how far away it is and how far this market has come, but it’s a start nevertheless.
Sadly, the same can’t be said for above the zone where it truly is devoid of any meaningful ratio until Y2 appears.
Range: 7025 to 7500