Trading Plan for the days action

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The SPI200 lagged the rest of the market in overnight trade and held below 7328. We expect that bulls may have a plan though and will look to flush lower on the open and press prices higher so watching for a higher low. Do not really want to see a flush up through 7328 on open, but if so, will be watching for a higher low still as the ASX may be in a positive mood. The DOW was capped around 34378 and is being anchored at 34200. I see the potential for a spike into 34560 so will be watching for a higher low and then the reaction up at the level to see if it will hold or break. The Hang Seng opened strong after the holiday yesterday so I am watching to see if price can flush the 25490 area on the open. Price is in no mans land at the moment so will need to see how the action plays out around 25490 or 24190. The Nikkei is on a break today so I do not expect to see a lot of action.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index

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