Trading Plan for the days action 11/11/21

The SPI200 was hit along with the US but not after a move up into the start of the European session. Feels like the SPI200 is getting buoyed overnight so that shares can be sold into a positive market the following day on the ASX. If that is the case, then I expect some weakness once the ASX opens and the SPI200 to flush into 7357. The DOW initially flushed up through 36315 before falling over to move through 36185 and into 36005. Expecting to see a grind up to trap some buyers before another leg lower. The Hang Seng was an undecided choppy mess yesterday…early losses were reversed hard before sellers stepped back in off 25015. The action had close to a 600 points range which may lead to more volatility today. Will be watching to see if price flushes lower and whether buyers can provide support for a spike higher again….I expect that we will need to be patient and let the action come to us. The Nikkei was choppy also as price was heading higher through European trade before falling over into the US close. Price is stuck between 29105 and 29015 so the open will be key to see whether the market wants to head south or flush lower and run higher.

Cryptos were a little confused overnight with an initial rally giving way to a spike lower after the USD rally weighed on the crypto space. Ethereum flushed through 4712 and may extend the move down into 4424 today so watching for a lower high. If price edges higher, will be watching for momo to ease and a lower high to trigger further selling. Bitcoin smashed into 63850 off 68500 as sellers unloaded. Will be watching the 63850 level to see how buyers react.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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