SPX, NDX and DJX Ratio table and comments

It looks like the SPX is still on holiday as this now makes 3 days in a row that activity only just made it onto the scales.

The fact it opened right on the top boundary at 2430.78 set the tone a bit and it seemed happy enough to drift up as long as everyone else was likeminded, but at the end of the  day a 12 point daily range, especially when they have 10 points of no ratio, is very tame  indeed.

Basically it is grinding through the midpoint of a very long 5 week expiry and next week will see the build up towards the rollover so it should all start getting going again soon.


Range:            2420  to  2430     or      2430  to  2455

Activity           Very poor

Type:              Bearish




The NDX is certainly the only US index that doesn’t seem affected by the holidays, or perhaps all that activity was precisely because of the holiday?

Anyway they have deemed it necessary to add a further 30 plus strike an no we really don’t know why.

The only ratio to change is R1 above the zone and activity is notable only because there is nothing elsewhere, but everything else going on suggests things are only just getting started here.

It was a good rally yesterday from their first close in bear territory and right back to the centre of their zone means it’s all still to play for we suspect.


Range:            5625  to  5675

Activity:          Moderate

Type:              On balance bullish



The DJX has chalked up its third “did not register” on activity this expiry which just about sums up its own attitude towards still being on holiday.

In one of the smallest opening gaps, just 13 points, meant it opened at 21492 and then it only managed a few more points to its high of 21505.

Of course this is also the top boundary of its NZ so the fact that this was sufficient for this index to give up on just shows how quiet it really was.

If it is this sensitive it is perhaps worth remembering it is still sitting at the top of a 200 point zone that has no ratio at all in it.


Range:            21300  to  21500     or      21500  to  21900 

Activity:          Did not register

Type:              N/A


July 6th, 2017 by