Trading Plan for the days action 1/02/22

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End of month shenanigans saw the US push higher to clear away more of the recent losses.

The SPI200/ASX200 both spiked into resistance in the final minutes of the session as the US rallied for the end of month. Expecting to see a good open on the ASX although muted as bulls remain skeptical. Watching for a spike into 6925(SPI200) and 7022 (ASX) to clear out some sellers. If price then holds a higher low, then will expect to see a grind higher today as there is a lot of room to move up on the ASX200. The DOW moved up through 34747 and then extended through 35010. Will be watching to see if the pop through 35010 will have some legs for continuation higher or whether it is a flush and drop move. The Hang Seng had a shorted session yesterday and is closed today. The Nikkei has been moving up off 26887 and is getting a little extended but I do expect a flush up into 27423 on open to test resistance. Longer term the underlying index is looking weak so may weigh on the action today.

Cryptos were lifted through the US session but Bitcoin and Ethereum remain below the respective resistance levels. Watching to see the commitment from buyers into Bitcoin around $39000 to see if they can extend on the move up into the $40K zone. Ethereum is the same…will be watching the 2697 area but am expecting some negative action down off the level for a squeeze on buyers.

Spot Gold edged its way higher as expected up off 1786. Watching the 1799 level to see if buyers can continue the push higher back above the 1800 area and test into 1810. If the level holds a flush, then watching for a lower high to pressure price back into 1793 or lower.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index


Nikkei Index



Spot Gold

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