Trading Plan for the days action 1/12/21

The SPI200/ASX200 both held above minor support but are looking very heavy. Will be watching for a flush lower or will be watching how sellers react to any strength that comes in as I see weakness on the Horizon. The DOW may have seen a major top put in as the Fed is looking to accelerate tapering. This is obviously not what the market expected so may weigh on the action in coming sessions. The Hang Seng continues to come under pressure so watching the 23650 level to hold an early flush higher and then a lower high to drag in more sellers. The Nikkei took a beating around the end of the ASX session and never recovered. Price held a support zone at 27415 s we will be watching the 27555 to potentially provide support or 27735 or 28000 to provide resistance for a move back into lows.

Cryptos held up well with Ethereum ending higher. Bitcoin is struggling below 59250 but holding support around 55750. Price is in no mans land at the moment so will need to see a higher low or lower higher for some action. Ethereum is intent in pushing up into 4751 which is the key level for me today.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index

Nikkei Index



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