SPX, NDX and DJX today’s ratio levels, table and comments

US Ratio Table 28th July 2017


As we said in the SPX yesterday “the other major aspect is Y2 has slipped slightly giving this index just a little more headroom” and it certainly took full advantage getting as high as 2484.04.

Therefore it has been a great few days for the scalpers out there but we must reiterate this is just Y2, so it is still a minimal Y ratio, and at some stage a little conviction will enter this market.

Very few changes today and not very exciting activity either but while this index is acting so sensitively it may be worth noting that 2470-2480 is still making inroads into being the next NZ so this could become a range within a range as it where.


Range:            2455  to  2505

Activity           Moderate

Type:              Neutral





Again as we said in the NDX yesterday “and of course Y2 was at 6000 yesterday so that today is just below the threshold” and this index got as high as 5995.77.

With the ratios weaker above the zone then being the second day since it was Y2 it is correspondingly even weaker but this level should still pack a punch nevertheless.

Also we have been mentioning the lack of development in the ratios so to clarify it is almost the case where there is so little ratio between 5725 and 5925 it could almost be a 200 point NZ, which is scary as this could translate into 1%++ point daily moves.


Range:            5825  to  (6000) / 6025

Activity:          Very strong

Type:              Neutral




Still definitely all about the DJX at the moment and yesterday it showed its true colours we feel.

It opened just a few points to the good which meant it was still above R1 at 21700 from the very start, and the low was 21687 so if anything it acted as support although we will happily concede that yesterday was more about the fundamentals than derivatives.

It started off with Caterpillars, then McDonald’s and ended with Verizon but regardless of the cause it has certainly sparked tremendous call activity so don’t rule out derivatives just yet.

So the real tests are to come and from the market’s reaction to R2 we will certainly see how high the markets conviction rate here is.


Range:            21700  to  21900 

Activity:          Off the scale

Type:              Bullish

July 28th, 2017 by