Trading Plan for the days action 22/10/21

The SPI200 managed to hold up off 7361 and push up into a minor level at 7393 into the US close. Expecting to see the 7393 level flushed on the open and then it will be a case off looking for continuation to 7421 of failure to 7361…being a Friday. The DOW had a late surge into 35665 as the ramping continues. Will be watching the level to hold and for a squeeze lower…prior to potentially being buoyed again tonight. Sooner of later higher yields are going to weigh more on the action. The Hang Seng held the 26210 area during the day and then later failed miserably to push into 2590. Price was then held in a range between 26210 and 25890. Need to see the open flush either higher or lower to get a read as price is in no mans land for now. The underlying index may set for a secondary move lower to squeeze out more buyers. The Nikkei also took a hit late in the session to move down into 28370 before consolidating. Key level holding the action down is 28713…like the Hang Seng price is in no mans land so the opening drive will give clearer direction.

Cryptos took a hit on the back of Binance and Bitcoin issues. Bitcoin came under pressure driving other crypto pairs lower. Price is holding between 63700 and 62600 so watching for either another spike lower of a slow grind higher. Ethereum looks heavier and set to hold below 4143 if bulls can not provide support. There is more than enough fuel lined up in the form of buyers, to pressure price lower if a selloff kicks into gear.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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