The SPI200 as held down at 7220 overnight as price came under pressure. The ASX is trying to hold above the 7180 zone but remains under pressure for now. Expecting to see the SPI200 either flush lower to clear some longs before a rally or flush 7220 and then grind lower….either way the opening volatility is picking up. The DOW was held down at 34420 and looks set to hold a lower high around 34050 today. If that is the case then expecting a push down into 33625. The Hang Seng held up off the day sessions lows into support around 23820. Expecting the Index to again be weighed down today and potentially extend below 24000. The Hang Seng could easily push into 23600 on the open before finding some buyers on Evergrande and regulation concerns. The Nikkei was hit during the day session and then again overnight along with the US. Bias is down although price is reacting up off lows. Bulls may want to squeeze out some sellers on the open so watching for a higher low.
Cryptos generally held recent gains although do not look too impressive and confident currently. Bitcoin edged up through 48300 so watching for either a retest and continuation higher or a move back below the level. Ethereum is sideways at this stage so will need to see either a higher low or lower high to get involved.
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Hang Seng Index