SPX , NDX and DJX ratio trifecta yesterday. Today’s levels and comment.


So far it seems like R2 is the SPX’s kryptonite as apart from running into that everything else is looking good.

Yesterday R2 was at 2730 and the high was 2729.29 and this makes it two days in a row R2 has halted its advance.

As one can see from the above table it has slipped a bit again today but it wasn’t that long ago that this index headbutted this same R ratio all the way up, and there is still 2 weeks to go.


Range:            2705  to  2735

Activity           Moderate

Type:              On balance just fractionally bearish



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No new strikes in the NDX today and decent activity.

However, the high yesterday, 6603.17, was definitely a test of Y2, which has held firm although it is fractionally easier today.

The ratios around the market have weakened but as you can see from the table above they are actually firmer out with that.

Bit of a ratio trifecta yesterday with Y2 here, R2 in the SPX and the step-up level in the DJX.


Range:            6425  to  6600

Activity:          Very good

Type:              Neutral



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In the DJX we mentioned the step-up at 25100 yesterday so it was interesting to see the high being 25105.

Of course, it shouldn’t be where it is, but then again with that position where else would it have been going, so the fact it has discovered a degree of sensitivity now is academic really.


Range:            24900  to  …… 

Activity:          Moderate

Type:              Bearish



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January 5th, 2018 by