Trading Plan for the days action 12/10/21

The SPI200 pushed into 7288 before failed and falling lower off the level back down to support around 7233. Expecting price to flush support at 7233 as the ASX will open nervously but expecting the ASX to hold above 7150 today in choppy trade. If the SPI200 can attack yesterdays lows and hold then watching for a higher low. The DOW held below 35015 and pushed straight into 34480 which is the level in focus today. Watching for price to either flush and hold or a lower high and continuation down. The Hang Seng was all one way action overnight which suggests some pressure on the underlying index today…but never trust the HSI. Expecting to see a flush higher to trap some buyers before price rolls over for a sell opportunity. If the Index still has some more strength left then watching for a flush of 24900 and then a higher low. The Nikkei also was one way action in overnight trade. Price is at 28450 which is key today. Watching for failure and a lower high for a long squeeze or for price to flush and hold a higher low.

Cryptos were mixed with Bitcoin being the lone bull overnight. Ethereum was flat while others came under some pressure which may make Bitcoin longs nervous and weigh on price soon. Watching BTC for an extension into 58900 today. Ethereum is finding selling off 3686 so may find further weakness today.

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SPI200 Index