Trading Plan for the days action 18/11/21

The SPI200 could not push higher but seems to have dragged in a lot of sellers which may be a setup for a squeeze higher today. The ASX is in a prime position for some bargain hunting today so watching SPI200 for a move up through 7391. The DOW is down into 35900 which I expect will be flushed sometime today. From there, it will be about a higher low for a squeeze up or continuation lower off a lower high. The Hang Seng was hit hard from the start of the US session to push below 25500 into 25370. This points to a drop of 200pts on the underlying index open. Will be watching for a potential Gap fill on the index after an early flush. The Nikkei was also hit at the start of the US session but found a bid around 29485. Price pushed into 29575 into the close which is key for me today. Watching for bulls to either smash higher and then continue or a flush of the level and then push lower.

Cryptos were range bound overnight and spent the session consolidating the losses from the previous session. Bulls have been chanting ‘buy the dip’ but it has yet to play out. Watching the 60800 level on BTC to either hold and pressure prices lower off a lower high or be broken on a move up off 58415. ETH is much the same but holding between 4140 and 4337.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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