SPX Aug to Sept Rollover 17th August 2017
Just slightly disappointing the SPX didn’t close inside its zone on the rollover, but as it spent almost the entire day there we have no problem calling that a hit.
Unsurprisingly there have been quite a few changes in the ratios but now we enter the grey area these should be taken as guides only as these changes will only accelerate.
Also the mighty September now starts to flex its muscles so this has to be borne in mind as well.
Our only fear is that so much effort has been expended to get back to the NZ for yesterday it could leave this market very vulnerable once this support is removed.
Range: 2445 to 2470 or 2470 to 2480
Type: On balance bearish
Well the rollover activity certainly did not disappoint, and please remember as these big expiries are so much bigger and as we grade activity on a relative basis then to get to the top end is really going some.
Although we must say that the little scare last week has in all probability certainly made a few more players consider a degree of insurance.
Surprisingly it hasn’t actually changed the table that much but it has most definitely added a lot more depth.
The big difference we have noted is that 2445-2455 has not yet given up on its designs to be the NZ.
Range: 2410 to 2470 or 2470 to 2480
Activity: Very strong
Type: On balance definitely bearish