SPX , NDX and DJX today’s ratio levels and comment


Well it did indeed happen in the SPX on Friday as it tested R2.

And indeed, we were worried as it being Black Friday not many were interested in the markets but it got as high as 2604.21, within 0.79-point, so definitely a hit but whether anyone noticed is a different matter.

The only changes are the higher ratios below the zone firm up otherwise it is as we were, with it all to go through again today we suspect.


Range:            2590  to  2605

Activity           Poor

Type:              On balance definitely bullish



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The NDX just goes to prove that there were enough people around to play if they wanted to, as they have easily managed the highest level of activity so far this expiry (excluding the rollover).

And we eventually have the move up, or should we say catapult up, in the NZ it is still way below the current market.

However, the strength in the ratios below the new zone and the weakness in those above it suggests this is not over, and we still have three weeks to go.

The market is still in the Y2 ratio bandwidth so we should still see the 25-point “uncomfortable” trading range, but if they continue to collapse like they are above the zone this might not be so come the end of the day.


Range:            6375  to  6500

Activity:          Very good

Type:              Bearish



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Strike 3 or not in the DJX but it tested R2 again on Friday with the high of 23599, which was right on it.

It knows what’s there and if it goes again that would be strike 4 and if it wasn’t for the SPX simultaneously coming up against their R2 we wonder if it would have held here yet again.

It certainly scared the players away but it is very probably going to be a rinse and repeat again today.


Range:            23100  to  23600       or       23600  to  24100 

Activity:          Did not register

Type:              N/A



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November 27th, 2017 by