Trading Plan for the days action 8/12/21

The SPI200/ASX200 added to the recent rally and looks set to kick higher again today. Will be watching the 7415 level on the SPI200 (7410 on the ASX200) for a short or a continuation trade. Also watching support around 7335/7327 if price wants to clean out some buyers ahead of the ASX open. The DOW is bullish as price holds higher lows and targets a move into 35960…on its way to the moon. If price wants to flush lower….very big if…will be watching the 35300 zone. The Hang Seng continues to be messy and choppy with most of the clean work done in t he second session or after the underlying HSI has closed. Watching the 24140 level and 24020 level…expecting the 24140 to be flushes on open. The Nikkei was all one way action yesterday so maybe no need for support zones. Price has extended into 28775 which I will be watching closely on the open for a trap of buyers and squeeze lower…or continuation up.

Cryptos were again well contained it seems by the bullish pressure in to the USD. Ethereum eased lower off 4374 but may be trapping some sellers before a ramp up later. Bitcoin is much the same off the 51750 zone. Price is doing some work around 50300 and no doubt making some bulls nervous.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index

Nikkei Index



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