Trading Plan for the days action 10/12/21

The SPI200/ASX200 both held up above support into the US close but do look set to lush the levels for a move lower on the open. Price held up ‘too’ well through European and especially US trade which. If the level does hold, then bulls will look to squeeze the market higher into the weekend…although I am biased down today. The DOW held above the 35585 level and below 35960 in a mild session ahead of US CPI tonight. Do not expect to see a lot of action today or through European trade and expect that the two levels will continue to hold the action. The Hang Seng held up off a low at 27015 (even though the CFD price has traded into the level) but may come under fire on the open. The action has generally been contained although the underlying Index has been heading higher. The action looks ready to run higher again…so expecting a flush lower as the Hang Seng likes to cause the most pain to traders. The Nikkei saw a grind lower yesterday in an uneventful session and price pushed below 28775. Looking for ether continuation lower or a flush back up into 28775.

Cryptos were again under pressure in the European and US sessions as buyers remain very cautious. Bitcoin and Ethereum are both under pressure and heading lower. Bitcoin is down at support around 47330 so watching for either a break and run lower or flush and hold. Ethereum is holding lower highs although in no mans land at the moment so will be waiting to see more action to define a move.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index

Nikkei Index



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