Trading Plan for the days action 23/11/21

The SPI200 was holding up well until the dying moments of the US session which saw bulls bail and price spike lower. Price has support that will need to hold an early flush. Bulls will be watching 7332 for a reaction from buyers. The underlying index remains looking sheepish and tentative so if the SPI200 can not hold support, the we may see a strong move lower. The DOW dropped close to 300pts in the last hour of trade as higher bond yields spooked markets. Expecting to see price flush into 35500 or potentially squeeze out some sellers with a grind higher. The Hang Seng was knocked on the head after the futures markets closed (CFD prices). Expecting to see some fear based selling but will be watching for a flush higher on the open first to clear out some sellers. The Nikkei also took a hit with other markets and moved lower. Price reacted up off 29655 but may look to flush the level on the open. Price reacted lower off longer term resistance at 29835/29925 so this level will hold the action down today.

Cryptos took a hit as the USD rally continues to dash the hopes of the young crypto warriors. Bitcoin reacted up off the $55750 zone which may come under fire today. Price could easily clear out some sellers with a rally as bargain hunters provide some support intraday. Ethereum is much the same but broke through a key level at 4140. I will be watching this level for a reaction from sellers to see if there may be some continuation lower on the cards.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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