Trading Plan for the days action 21/10/21

The SPI200 rallied into 7410 before finding some sellers and flushing lower into the close. Expecting to see another bullish ASX session so will be expecting a squeeze of buyers on the SPI200 open before a grind higher. Too much enthusiasm on the open and ramp above 7410, may see a slow grind lower again into the close. The DOW is chopping around resistance at 35610. Price is trending higher so expecting to see any flush lower be met with more buying with earnings to support again tonight in the US session. The Hang Seng kicked up off 25890 yesterday and held the gains into the close. The Index traded up into resistance around 26200 so may find some selling today. If that is the case, then watching for a flush higher to trap buyers and then a run lower. The Nikkei found some heavy selling off major resistance around 29415 and then price was well contained in a range between 29315 and 29255. May see the 29315 zone turn into a lower high which means a break down below 29255.

Cryptos were strong overnight as the recent move up in Bitcoin flowed over into other cryptos. Ethereum had a bit session with a spike up through 3890 then 3976 in a squeeze on shorts. Price is extended so may need to clear out some buyers on a retest of 3976. Bitcoin just keeps chugging higher as the new ETF supports bulls. Price action is squeezing out some buyers off 66900, so will be watching for another higher low to build and run up through the level.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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