Trading Plan for the days action

The SPI200 broke below the 7235 level into the US close as price was heavy up around 7273. We may see some more buyers from the run up off 7089 squeezed out of the action on the ASX open so watching for a lower high. The DOW held support into 33770 and is pushing back into the level after the US close. Will be interesting to see if the level can hold as traders may be cautious today into the FOMC statement tonight. The Hang Seng held the 24190 level and the CFD has moved lower off the level after the futures underlying market has closed. I expect to see an initial flush higher if sellers are going to press price lower through 23875. If this is a trap setting for the open…ie weakness…then watching for a test into 23875 and then a higher low. The Nikkei is down into a support zone around 29820 so watching the open for either a hold or break of the level…of course after an opening flush.

Join Our Traders Discord Channel (email for the link)

SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index

Do you have a comment...okay, lets hear it!!