Trading Plan for the days action 1/11/21

The SPI200 managed to make back a lot of the losses from Fridays day session as the US continues to rally. Expecting to see some bargain hunters out today on the ASX and for the SPI200 to flush 7351 and push higher off the level. The DOW has opened strong today forcing its way into new highs in a thin market. Will be watching the 35890 level for either a retest and continuation or for it to fail and move back below 35890. The Hang Seng continued to move lower after the index closed so expecting a weak open on the underlying HSI. The current index action is lower so expecting a push into 25100. Price could flush 25385 first so will be watching for a lower high. The Nikkei has just spike hard on the CFD open so may be expecting the DOW to kick on. Will be watching for a lower high and move back into 29210…no longs up in a extended market until a higher low can build.

Cryptos were mixed with some holding a higher low over the weekend while Bitcoin and Ethereum edged lower. Watching Bitcoin to hold above 60310 and grind up through 63700. Ethereum has flushed and then reclaimed 4270 so watching for another retest to hold today.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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