NDX the only question is which zone? Today’s ratio rollover table, levels and comment.


NDX May to June Ratio Rollover Table 16th May 2018





There has been a lot of symmetry in the NDX over this and the last expiry.

For those that can remember (or even look up past posts) the NDX in April went down to Y2 which in that expiry was at 6325 (low 6322.60), a fall of 700-points, before reclaiming 500-points to hit its zone on the rollover Wednesday at 6800.

For this, the May expiry, it started off from 6667.75, the zone was then 6575-6625, and it got as low as 6426.57.

However, the low this expiry was all about the DJX fighting a rear-guard action until the SPX hit their R ratios.

For the NDX this expiry was all about hitting Y2 above the zone this time, and we got three strikes at it when it was 6975 last week, and as you can see it is now 7025, but now it is all about the zone and whether this expiry can achieve another nigh on perfect one.


 Range:            6725  to  7025

Activity:          Average

Type:              On balance fractionally bullish




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Now there is a caveat to what we have said above “now it is all about the zone” as here in June the zone is already 6775-6825.

June is also a triple whereas May just an intermediary, so the biggie normally out-muscles the smaller so we have to go with May’s zone joining June’s rather than the other way around.

So, it is still all about the zone, the trouble is which one.

Although there are still no R ratios in evidence, this expiry is already further developed than the last two expiries, if only because the Y2 levels are “only” 300-points away at this early stage.


Range:            6825  to  7175                    

Activity:          Average

Type:              Neutral    



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May 16th, 2018 by