Trading Plan for the days action 7/10/21

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The SPI200 bounced around like a yoyo again and is just below 7216. Expecting price to flush the 7216 area on open to clear some stops but the direction could go either way with the ASX holding 7180 but also being pressured with lower highs. The DOW is contained between 34490 and 33825 in a wide range. Expect price to target stops above the 34490 area and then it will be about a retest and hold for a move up or failure back below and a lower high. The Hang Seng is holding below the 24080 level (into the futures market close) so expect the level to be flushed on the open (CFD prices hanging above the level now). The Underlying index is looking heavy so the open will be telling as to whether we get some back and fill higher of the downtrend or continuation…betting that they may slam it down on open and the grind it back up. The Nikkei underlying index is down on support around 27400/27500 so may see a squeeze higher today to clear out some bears. The CFD has rallied off lows thanks to the ramp in the US and may hold above 27655.

Cryptos generally continue to be led higher by the run up in Bitcoin which has ramped up through resistance and through $55K. Bitcoin is hovering just above the 52850 level as crypto bulls are chomping at the bit. Would like to see a minor flush of buyers to clear them out before another leg higher. Ethereum is more contained and holding above 3550 but lacking the same conviction as BTC.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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