{"id":16295,"date":"2018-05-18T07:47:02","date_gmt":"2018-05-18T07:47:02","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16295"},"modified":"2018-05-18T07:47:02","modified_gmt":"2018-05-18T07:47:02","slug":"asx-200-tug-of-war","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/","title":{"rendered":"ASX 200 tug-of-war"},"content":{"rendered":"

At times it pays to look at the big picture. A monthly chart shows the ASX 200 recovering from 2 months of uncertainty (February – March), when the index broke its new support level at 6000. Recovery is almost complete, with the index testing the last level of resistance at 6150. Breakout would signal a primary advance but bearish divergence on Twiggs Money Flow (13-week) warns of selling pressure. Another test of support at 6000 is likely.<\/p>\n

\"ASX<\/p>\n

The ASX faces a bi-polar medium-term outlook with its two largest sectors headed in opposite directions.<\/p>\n

\"ASX
\nSource: S&P Dow Jones Indices<\/a><\/span><\/p>\n

Mining is going gang-busters with the ASX 300 Metals & Mining Index offering a medium-term target of 4200 after breaking through 3800.<\/p>\n

\"ASX<\/p>\n

But the largest sector, Finance, is in trouble. The impact of the Royal Commission is likely to slow bank lending growth and APRA’s efforts to raise bank lending standards will also adversely affect declining housing growth. The ASX 300 Banks Index remains in a primary down-trend, having broken support at 8000. Retracement respected the new resistance level at 8000 and breach of support at 7700 would signal a test of the 2016 low at 7200.<\/p>\n

\"ASX<\/p>\n","protected":false},"excerpt":{"rendered":"

At times it pays to look at the big picture. A monthly chart shows the ASX 200 recovering from 2 months of uncertainty (February – March), when the index broke its new support level at 6000. Recovery is almost complete, with the index testing the last level of resistance at 6150. Breakout would signal a … <\/p>\n

Continue reading “ASX 200 tug-of-war”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,57],"tags":[251,261,263],"class_list":["post-16295","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","tag-asx-300-banks-index","tag-asx-300-metals-mining-index"],"yoast_head":"\nASX 200 tug-of-war - 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 tug-of-war - the patient investor\" \/>\n<meta property=\"og:description\" content=\"At times it pays to look at the big picture. A monthly chart shows the ASX 200 recovering from 2 months of uncertainty (February – March), when the index broke its new support level at 6000. Recovery is almost complete, with the index testing the last level of resistance at 6150. Breakout would signal a … Continue reading "ASX 200 tug-of-war"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/\" \/>\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:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-18T07:47:02+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-05-18-xjo.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX 200 tug-of-war\",\"datePublished\":\"2018-05-18T07:47:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/\"},\"wordCount\":183,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-05-18-xjo.png\",\"keywords\":[\"ASX 200\",\"ASX 300 Banks Index\",\"ASX 300 Metals & Mining Index\"],\"articleSection\":[\"Australia & NZ\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/\",\"name\":\"ASX 200 tug-of-war - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-05-18-xjo.png\",\"datePublished\":\"2018-05-18T07:47:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-05-18-xjo.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-05-18-xjo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/18\/asx-200-tug-of-war\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200 tug-of-war\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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Breach of support is likely and would signal a test of primary support at 7300. The ASX 300 Metals & Mining index is also headed for a test of primary support,\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17010,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/07\/asx-200-banks-miners-lead-correction\/","url_meta":{"origin":16295,"position":1},"title":"ASX 200: Banks & miners lead correction","author":"Colin Twiggs","date":"September 7, 2018","format":false,"excerpt":"The ASX 300 Banks index continues to test support at 7700 after respecting its new resistance level at 8000. Breach of support is likely and would signal another test of primary support at 7300. The ASX 300 Metals & Mining index broke short-term support at 3600 and is headed for\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15179,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/04\/21\/asx-200-advance-slows-as-iron-ore-falls\/","url_meta":{"origin":16295,"position":2},"title":"ASX 200 advance slows as iron ore falls","author":"ColinTwiggs","date":"April 21, 2017","format":false,"excerpt":"Iron ore found support at $60. The ASX 300 Metals & Mining Index has taken some encouragement from the rally, with support at 2850. But bear rallies are normally short in duration and reverse sharply. The ASX 200 advance has slowed after the recent sell-off in the resources sector. But\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15303,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/19\/asx-banks-break-support\/","url_meta":{"origin":16295,"position":3},"title":"ASX banks break support","author":"ColinTwiggs","date":"May 19, 2017","format":false,"excerpt":"The big banks fell sharply on the week's turmoil, with the ASX 300 Banks Index breaking support at 8500. Breach signals a primary trend reversal, offering a medium-term target of 8000*. * Target: 8500 - ( 9000 - 8500 ) = 8000 Resources stocks rallied over the week. Expect strong\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16932,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/01\/asx-200-hesitant-3\/","url_meta":{"origin":16295,"position":4},"title":"ASX 200 hesitant","author":"Colin Twiggs","date":"September 1, 2018","format":false,"excerpt":"The ASX 300 Banks index found support at 7700 and retraced to test its new resistance level at 8000. Respect is likely and would confirm another test of primary support at 7300. The ASX 300 Metals & Mining index made a weak retracement to test 3750, suggesting strong selling pressure.\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17085,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/22\/asx-200-banks-lack-support-but-miners-receive-a-boost\/","url_meta":{"origin":16295,"position":5},"title":"ASX 200: Banks lack support but miners receive a boost","author":"Colin Twiggs","date":"September 22, 2018","format":false,"excerpt":"The ASX 200 correction continues to test medium-term support at 6150. Small candles on the weekly chart indicate a lack of enthusiasm from buyers and support is unlikely to hold. Breach would signal a test of the rising long-term trendline at 6000. The ASX 300 Banks index continues to test\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & 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\/16295","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=16295"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16295\/revisions"}],"predecessor-version":[{"id":16296,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16295\/revisions\/16296"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}