Trading Plan for the days action 19/11/21

The SPI200 managed to end with minor gains after the bounce back in the US from a weak open. Price retested and held the 7337 level and held below the 7391 area. The ASX200 underlying Index looks like it may find some follow through buying on the open which would lead the SPI200 to flush 7391…we will see. The DOW spiked below 35900 and then bounced straight back to reject the move. This is a good sign for bulls especially if they can reclaim 35900. Watching for a minor flush lower and then squeeze on sellers for a push higher. The Hang Seng smashed below the 25215 level once the underlying index closed. This will lead to another weak open on the HSI underlying index. Will be watching for a further flush lower and be on guard for a gap fill on the index. The Nikkei was a chop machine…with price spiking 250 pts out of the blue and then later giving up the gains. It seems that bulls want price higher so watching for the 29615 level to be flushed and then the reaction from buyers to see if we get continuation higher or another selloff.

Cryptos were again sold lower with Bitcoin moving and holding below the $60K level. Bears will be feeling the pinch and I expect that there may be more downside to come if price holds below the 58415 level. Ethereum is much the same below 4140.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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