The SPI200/ASX200 both flushed lower into the US close so expecting another flush on the open to clear out some stops below support. Will be watching the level to see if buyers can provide some support or whether we see more continuation lower. The DOW is all about FOMC Thursday and tapering. Expecting to see a test into 35585 but for the level to hold. The general trend at the moment is chop with Friday being higher and then last night lower….but generally price is holding highs since the rally last Monday/Tuesday. The Hang Seng trapped a lot of bulls yesterday on the open before falling over and pushing below support around 23900. The move could easily extend down into 23505 today of retest into 23900…so the open will be the tell. The Nikkei also fell over after an early rally with price sitting on 28440 support. Expecting a squeeze of sellers on the open and retest into 28610.
Cryptos were were hit hard again as crypto bulls feel the pain. Bitcoin looks a little sick and may be in for a bigger unwind of long positions as the negative sentiment mounts. Key level today is the 47400 area to see whether it holds for a bounce higher or fails for a move down. Ethereum reacted up and off a major area at 3678 which may drag in some committed buyers. Watching 3678 and 3947 for some action.
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Hang Seng Index