Trading Plan for the days action 8/10/21

Charts Powered by

The SPI200 pushed up into the 7277 level before fading into the US close. This means that the ASX will open higher into previous sessions highs. Expecting to see a flush higher on the open potentially targeting 7302 but then for the market to fade lower into the weekend and US payrolls. The DOW rallied into 35015 before fading but seems set to hold above the 34650 level today. Do not expect a lot of action on the DOW ahead of the Payrolls at 11:30pm AEDT. The Hang Seng extended on the days gains into 24900. The underlying index ended up at a resistance zone and will open higher if prices remain where they closed on the futures market. This may triggered a gap higher on the index and then flush lower to trade on the downside into the mid session break. The Nikkei is an each way bet today as the trend is down on the underlying index but slowing into support so may want to squeeze out some sellers today. Will be watching the 28275 level for some action.

Cryptos were generally contained overnight with the run higher in Bitcoin taking a breather. Price is consolidating above the 52850 zone which is a good sign for bulls while Ethereum is set to push up into 3686 and play catchup.

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!!