Trading Plan for the days action 7/12/21

The SPI200/ASX200 extended on the day sessions close and rallied in overnight trade. Price found sellers into resistance (SPI200 7335 and ASX200 7327) which I expect to see targeted on the open. If price flushes lower on the open, then expect that it will be a giod sign for bulls as buyers are flushed early for a later rally. The DOW pushed up into resistance at 35300 and closed at the level making it the key zone to watch today. If we see price fade off the level, looking for a short. If we see a move up and some short term consolidation, expect an extension on the rally and move up. The Hang Seng was a mess during the day as bulls were determined to see 23315 hold. Price later saw sellers give up and a 400pt spike to clear out the days bears. Watching to see if price can hold above 23620 or will test up into 23860. The Nikkei also rallied hard in the overnight session setting the way for a gap up in the underlying index. Key level today will be the 28165 zone.

Cryptos were pretty well contained and edged their way higher late in US trade. Bitcoin is lagging and is yet to test into a key level being in no-mans-land for now. Ethereum has pushed back up into 4374 and is extended so may see some reaction from sellers today.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index

Nikkei Index



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