Trading Plan for the days action 19/10/21

The SPI200 moved down in the overnight session and ended in no mans land between 7367 and 7296. Watching for either a flush on open and then a higher low or a flush up into resistance and then a fade lower. Will need to see the opening action play out as there is no key level to work off. The DOW flushed into 34990 but held up off the lows at the US open. Price ran into sellers around 35335 so watching to see if this level is broken for a continuation move up or whether it holds for a lower high and move into 34990. The Hang Seng took a hit on the open and then rallied back above the days highs through 25470. The index is expected to flush the 24500 level on the open and was bias up into the close so watching the Hang Seng to provide some bullish action today. Again, the opening flush will be key. The Nikkei spent most of the US session caught between 29030 and 29085. Expecting a flush of these levels on the open and will look to work off the level with a higher low or lower high. The index itself consolidated into the close and I expect it to kick higher from the open.

Cryptos generally moved lower although Bitcoin soaked up selling pressure to hold the EMAs. Bitcoin could go either way from current levels…hold a lower high and push down into 58950 or hold a higher low and rally through 62500. Ethereum is less positive and is set to push down into 3662.

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SPI200 Index