Trading Plan for the days action 16/12/21

The SPI200/ASX200 rallied hard off lows being dragged up by a very bullish US close. Expecting price to flush resistance around 7263 on the SPI200 and 7361 on the ASX200. Price may need to squeeze out some buyers into support but I do expect to see a Euphoric ASX open. Remember the ASX is delayed open due to Futures expiry. The DOW smashed up through 35585 after the FOMC release….which was a bit of a surprise to me. Price extended into 35960 where I will watch for a reaction from sellers. Getting long after an extensions will be hard and I expect will need to clear out some bulls before continuing up. The Hang Seng also spiked along with the US but on the CFD after the futures closed. Watching for an extension into 23460 to see how sellers react or a flush lower into 23145. The Nikkei extended into 28920 into the US close. Price could easily extend up and through on the open and charge up to 29160 unless price wants to flush some late buyers first.

Cryptos found some support into FOMC and extended higher on the back of the USD weakness. Bitcoin traded up off 47400 and is in no mans land for now. Watching for price to hold a lower high for a sell or extend into 50250. Ethereum blasted up through 3947 so watching for a retest of the level for a long or for price to fade back below.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index

Nikkei Index



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