{"id":13541,"date":"2016-07-07T03:27:49","date_gmt":"2016-07-07T07:27:49","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13541"},"modified":"2016-07-07T03:27:49","modified_gmt":"2016-07-07T07:27:49","slug":"asx-200-banks-weigh-on-the-index","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/07\/07\/asx-200-banks-weigh-on-the-index\/","title":{"rendered":"ASX 200: Banks weigh on the index"},"content":{"rendered":"<p>The ASX 200 encountered resistance at 5300 and is likely to test support at 4900\/5000, with breach of the lower trend channel and declining 13-week Money Flow warning of selling pressure. Breach of support at the recent low of 5050 would confirm.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" title=\"ASX 200\" alt=\"ASX 200\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-07-07-xjo.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p>The Banks are weighing on the index, with <a href=\"https:\/\/goldstocksforex.com\/2016\/07\/04\/more-capital-likely-for-banks-apra\/\">APRA warning of further capital increases<\/a> and concerns over a slowing housing market, particularly apartments. The ASX 300 Banks Index is testing primary support at 7200. Breach would offer a target of 6400*. Weakness in this sector is likely to affect the entire market.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" width=\"525\" height=\"363\" title=\"ASX 300 Banks\" alt=\"ASX 300 Banks\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2016\/2016-07-07-xbak.png?resize=525%2C363&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target calculation: 7200 &#8211; ( 8000 &#8211; 7200 ) = 6400<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ASX 200 encountered resistance at 5300 and is likely to test support at 4900\/5000, with breach of the lower trend channel and declining 13-week Money Flow warning of selling pressure. Breach of support at the recent low of 5050 would confirm. The Banks are weighing on the index, with APRA warning of further capital &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/07\/07\/asx-200-banks-weigh-on-the-index\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200: Banks weigh on the index&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,57],"tags":[251,260],"class_list":["post-13541","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","tag-asx-300-banks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200: Banks weigh on the index - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX 200: Banks weigh on the index - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 200 encountered resistance at 5300 and is likely to test support at 4900\/5000, with breach of the lower trend channel and declining 13-week Money Flow warning of selling pressure. 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The Banks are weighing on the index, with APRA warning of further capital &hellip; Continue reading &quot;ASX 200: Banks weigh on the index&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/07\/07\/asx-200-banks-weigh-on-the-index\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-07T07:27:49+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2016\/2016-07-07-xjo.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"ASX 200: Banks weigh on the index\",\"datePublished\":\"2016-07-07T07:27:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/\"},\"wordCount\":97,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2016\\\/2016-07-07-xjo.png\",\"keywords\":[\"ASX 200\",\"ASX 300 Banks\"],\"articleSection\":[\"Australia &amp; NZ\",\"Stock Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/\",\"name\":\"ASX 200: Banks weigh on the index - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2016\\\/2016-07-07-xjo.png\",\"datePublished\":\"2016-07-07T07:27:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2016\\\/2016-07-07-xjo.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2016\\\/2016-07-07-xjo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/07\\\/07\\\/asx-200-banks-weigh-on-the-index\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200: Banks weigh on the index\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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The second biggest industry group, Metals & Mining Index, however, remains in a primary up-trend. A long tail on the ASX 300 Metals & Mining weekly chart reflects support\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16313,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/26\/banks-hurt-the-asx\/","url_meta":{"origin":13541,"position":1},"title":"Banks hurt the ASX","author":"Colin Twiggs","date":"May 26, 2018","format":false,"excerpt":"Banks face continued selling pressure as the Royal Commission progresses. The ASX 300 Banks Index broke medium-term support at 7700, confirming the primary down-trend and a target of the 2016 low at 7200. Financials are the largest sector in the ASX 200. Materials, consisting of mainly Metals & Mining are\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16336,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/","url_meta":{"origin":13541,"position":2},"title":"Is ASX 200 resurgence sustainable?","author":"Colin Twiggs","date":"June 9, 2018","format":false,"excerpt":"The ASX 200 found support at 5950\/6000, a bullish sign. Large bearish divergence on Twiggs Money Flow (13-week) continues to warn of selling pressure but breakout above 6150 would signal a fresh primary advance. Breach of 5950 is unlikely at present, but would warn of a test of primary support\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14167,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/16\/australia-asx-200-weak-but-support-for-banks\/","url_meta":{"origin":13541,"position":3},"title":"Australia: ASX 200 weak but support for banks","author":"ColinTwiggs","date":"September 16, 2016","format":false,"excerpt":"The ASX 200 penetrated its lower trend channel, indicating that the up-trend is slowing. This week's long tail indicates short-term buying pressure but not necessarily a reversal. Breach of primary support at 5100 would warn of another decline (4700). Bearish divergence on Twiggs Money Flow indicates long-term selling pressure. The\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14235,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/09\/24\/australian-banks-rally\/","url_meta":{"origin":13541,"position":4},"title":"Australian banks rally","author":"ColinTwiggs","date":"September 24, 2016","format":false,"excerpt":"The ASX 200 is headed for another test of resistance at 5600. Bearish divergence on Twiggs Money Flow warns of selling pressure. Breakout above 5600 is unlikely and breach of the lower trend channel would warn of a test of primary support at 5000\/5100. * Target calculation: 5400 + (\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19383,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/08\/asx-banks-profit-squeeze-but-miners-bullish\/","url_meta":{"origin":13541,"position":5},"title":"ASX banks profit squeeze but miners bullish","author":"Colin Twiggs","date":"November 8, 2019","format":false,"excerpt":"Iron ore continues its primary decline, having broken support at 90. Expect a test of the long-term target at 65. ASX 300 Metals & Mining index rallied during the week. I was expecting another test of support at 4100 ( the neckline of a large head-and-shoulders reversal pattern ) but\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13541"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13541\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}