Trading Plan for the days action 2/11/21

The SPI200 again fended off an early push lower in the European session and ended up near resistance…probably new that the US only goes up. Expecting to see a flush up through 7366 and then will be watching the level to either hold or price to fail back below. If price sees another move down on open and break below 7321, buyers may struggle to fight back. The DOW flushed lower on open to clear out some buyers from the day but the bulls are strong. Expecting to see a grind higher again today ahead of FOMC Wednesday…do not expect any big selloff until it is clear that tapering is underway. The Hang Seng had a bit night and surprisingly fought back from a weak day session for the underlying index. The index is expected to open up around +350 so expect to see some opening volatility as bulls fight gap close sellers. The Nikkei held onto yesterdays gains after a test into 29390. If price can hold the current level and consolidate further, then expecting to see a spike higher through 29590 to clear out some stop losses.

Cryptos were contained and a little choppy overnight as Bitcoin held above the 60310 level. The rejection of the push into 57340 on Bitcoin suggests that bulls will hold above 60310 and run up to recent highs. Ethereum is chopping around 4370 but may just be consolidating the before a push higher. It may just be that everyone is punting away on Shiba and not interested in the other crypto pairs for now.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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