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SPI200 HANG SENG N225 and DOW Index CFDs
Time Frame : 5/30 Min Charts
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Watch Here for further Updates as the action plays out – Refresh Page during the day.
Pre-Market Plan
SPI200 backed off from the 6070 level into the close after a bullish session in Europe and the US saw major indexes well and truly extended at the close. As elections progress, expect to see a lift in volatility with the major risk being for a complete unwind from buyers on any hint of a contested outcome…or just anything but a clean sweep for Biden. The SPI200 is expected to flush 6070 on the open and drag in buyers….from there it will be up to news flow for me. Higher lows means further buying pressure but do expect spikes lower on the way. The DOW had a big rally up which stalled below 27786. If 27222 gets broken we may see the unwind and move lower. If it holds then higher lows will still be in play. The Hang Seng struggled up at 25000 and could not continue on with the days bullish action. The HSI is stretched and giving bulls some reason to pause. For a move lower, expect to see an initial flush higher to trigger sellers into action for a move down through 24743. If the level holds, then buyers remain in control. The N225 has been in a steady climb higher. If 23720 holds on the open then expect the run up to extend to 24100. Momentum up is fading so bulls may have a rough day.
Either way, markets have factored in a clean sweep for Democrats in the elections. Past elections have seen a move one way into the count and then a complete reversal. The way the markets are positioned long, there is a major risk to the downside. If the clean sweep does play out, then no harm done.
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SPI200 Index
DOW Index
Hang Seng Index
Japan 225 Index
