Trading Plan for the days action

SPI200 HANG SENG N225 DOW Index CFDs and Cryptos

Time Frame : 5/15/30 Min Charts

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Pre-Market Plan and KEY LEVELS and PRICE ACTION to watch

— Remember to work off Key Levels from charts —

The SPI200 reacted lower off the days highs in a move that we expect to be engineered to squeeze out some buyers as the ASX approaches new all time highs and after the positive session yesterday. The risk off move in the DOW is nothing new even as the news services…again….talk up inflation. Watching for a squeeze lower on the SPI200 open but as long as the 7060 level holds, the 30min trend is up. The DOW saw some good old fashion profit taking after a big bullish session. Bonds are still pointing higher for now and the Fed will keep their bond buying going so, again, expect price to be supported…its just how much the market may flush lower. The Hang Seng looks more weighted to the downside than other major indexes but bulls are holding price up for now as long as yesterdays lows can hold. Expecting to see a test of 28190 and for buyers to defend the level. The Nikkei (N225) is under pressure and we expect to see a flush down to 29140 prior to the Hang Seng open. If the 29240 level can hold then there is the potential for a good squeeze higher.

Cryptos were belted lower overnight which should remind traders of the dizzying heights of the asset class. The move shows the ability for a major correction even though prices generally bounced….as one day they will not bounce and the ‘buy the dip mentality’ will be smashed. For now, we are looking for support on Bitcoin at 55360 to hold as traders see a ‘bargain’ and squeeze price higher. Ethereum also bounced well off the lows below the 3722 level to hold the trend up. Watching to see how price reacts around the 3965 area.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index