Trading Plan for the days action 18/10/21

The SPI200 is up at resistance so expecting to see a flush of the level and then potentially some profit taking ahead of China data at 1pm. It will be interesting to see if there is any reaction to BOE rate rise news…although expect it will be in the US. If the SPI200 can flush some longs out on an initial push lower, then will be watching for a kick higher. The DOW is intent on pushing higher into 35570 being buoyed by earnings enthusiasm. Watching for higher lows and continuation…or a decent pullback and lower high for a sell. The Hang Seng looks positive so watching for a spike into 25610 and then a lower high of an initial flush lower and then a higher low. The underlying index open will be important to see if 25400 holds or not. The Nikkei continues to show strength as bears give up and the index grinds higher. Watching resistance at 29285 for a spike into the level and to either hold or fail. If price has a minor flush lower on the open, then watch for a higher low and spike into the level.

Cryptos were were led higher by Bitcoin breaking above 60K. Prices faded over the weekend and then spiked lower this morning, but have since recovered some of the losses. Bitcoin is trending higher but in no mans land, so watching for a higher low. Ethereum is rather choppy between 3662 and 3976. The run higher lacks the conviction that BTC is showing.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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