Trading Plan for the days action 20/10/21

The SPI200 pushed into resistance at 7388 into the US close. Expecting to see the level flushed on the open and potentially the action then to grind lower as the ASX200 opens around the 7400 level that I expect to see cause problems for bulls. If the level starts to hold, then watching for a higher low. The DOW held a retest of 35320 after breaking up through the level and then pushed into 35505. Expecting to see price flush up through 35505 as bulls continue to be supporting by earnings. The Hang Seng initially kicked higher on the open yesterday and then it was a slow grind higher through to the US close. The index is trending higher so watching for a flush and run higher or an exhaustion spike up and then fade lower. The Nikkei was also a grind higher from the open as price pushed up into 29415 resistance. Watching to see what happens on a pullback to see if it will be a squeeze on buyers then run higher or a deeper correction move down.

Cryptos were mixed with Bitcoin continuing to charge higher with the start of the Bitcoin ETF on the NYSE, while others dragged their feet or even edged lower. Bitcoin is up at resistance around 64500 so watching the level for either a break, retest and run or failure and squeeze on bulls. Ethereum looks set to push into 3890 and above.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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