{"id":16330,"date":"2018-06-02T00:56:36","date_gmt":"2018-06-02T00:56:36","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16330"},"modified":"2018-06-02T00:56:36","modified_gmt":"2018-06-02T00:56:36","slug":"bi-polar-asx-continues","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/","title":{"rendered":"Bi-polar ASX continues"},"content":{"rendered":"<p>Banks continue to threaten mayhem, with the ASX 300 Banks Index headed for a target of its 2016 low at 7200.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"ASX 300 Banks\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png?w=525&#038;ssl=1\" \/><\/p>\n<p>The second biggest industry group, Metals &#038; Mining Index, however, remains in a primary up-trend. A long tail on the ASX 300 Metals &#038; Mining weekly chart reflects support at 3800 and another test of 4000 is likely.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"ASX 300 Banks\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xmm.png?w=525&#038;ssl=1\" \/><\/p>\n<p>The ASX 200 continues to display a large bearish divergence on Twiggs Money Flow (13-week), warning of selling pressure. Breach of 5950 would warn of a test of primary support at 5650\/5750.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"ASX 200\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xjo.png?w=525&#038;ssl=1\" \/><\/p>\n<p>I expect a gradual decline in the index unless mining falters. In which case all bets are off.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banks continue to threaten mayhem, with the ASX 300 Banks Index headed for a target of its 2016 low at 7200. The second biggest industry group, Metals &#038; Mining Index, however, remains in a primary up-trend. A long tail on the ASX 300 Metals &#038; Mining weekly chart reflects support at 3800 and another test &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bi-polar ASX continues&#8221;<\/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":[251,260,262],"class_list":["post-16330","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","tag-asx-300-banks","tag-asx-300-metals-mining"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bi-polar ASX continues - 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=\"Bi-polar ASX continues - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Banks continue to threaten mayhem, with the ASX 300 Banks Index headed for a target of its 2016 low at 7200. The second biggest industry group, Metals &#038; Mining Index, however, remains in a primary up-trend. A long tail on the ASX 300 Metals &#038; Mining weekly chart reflects support at 3800 and another test &hellip; Continue reading &quot;Bi-polar ASX continues&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/\" \/>\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=\"2018-06-02T00:56:36+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Bi-polar ASX continues\",\"datePublished\":\"2018-06-02T00:56:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/\"},\"wordCount\":101,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png\",\"keywords\":[\"ASX 200\",\"ASX 300 Banks\",\"ASX 300 Metals &amp; Mining\"],\"articleSection\":[\"Australia &amp; NZ\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/\",\"name\":\"Bi-polar ASX continues - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png\",\"datePublished\":\"2018-06-02T00:56:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bi-polar ASX continues\"}]},{\"@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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A long tail on the ASX 300 Metals &#038; Mining weekly chart reflects support at 3800 and another test &hellip; Continue reading \"Bi-polar ASX continues\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2018-06-02T00:56:36+00:00","og_image":[{"url":"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"Bi-polar ASX continues","datePublished":"2018-06-02T00:56:36+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/"},"wordCount":101,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png","keywords":["ASX 200","ASX 300 Banks","ASX 300 Metals &amp; Mining"],"articleSection":["Australia &amp; NZ","Stock Markets"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/","name":"Bi-polar ASX continues - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png","datePublished":"2018-06-02T00:56:36+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-01-xbak.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Bi-polar ASX continues"}]},{"@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. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4fo","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":17085,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/22\/asx-200-banks-lack-support-but-miners-receive-a-boost\/","url_meta":{"origin":16330,"position":0},"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 &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":17010,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/07\/asx-200-banks-miners-lead-correction\/","url_meta":{"origin":16330,"position":1},"title":"ASX 200: Banks &#038; 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 &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":17059,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/15\/asx-200-correction-to-test-6000\/","url_meta":{"origin":16330,"position":2},"title":"ASX 200: Correction to test 6000","author":"Colin Twiggs","date":"September 15, 2018","format":false,"excerpt":"The ASX 300 Banks index continues to test support at 7700. Declining Trend Index warns of medium-term selling pressure. 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 &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":15452,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/16\/strange-week-on-the-asx\/","url_meta":{"origin":16330,"position":3},"title":"Strange week on the ASX","author":"ColinTwiggs","date":"June 16, 2017","format":false,"excerpt":"Strange week on the ASX, with strong jobs numbers from the ABS causing a surge in the Aussie Dollar and a more optimistic outlook on the ASX. But Iron ore continues to fall, headed for a test of 50. The ASX 300 Metals & Mining index respected resistance at 3000\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16824,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/11\/asx-200-buying-pressure\/","url_meta":{"origin":16330,"position":4},"title":"ASX 200 buying pressure","author":"Colin Twiggs","date":"August 11, 2018","format":false,"excerpt":"The ASX 300 Metals & Mining index continues to test support at 3750. Breach of support and the rising trendline would warn of a correction to 3400. The ASX 300 Banks index recovered above 8000, the false break suggesting another rally, targeting 8500. I remain wary of banks, however, because\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":16330,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16330","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=16330"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16330\/revisions"}],"predecessor-version":[{"id":16331,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16330\/revisions\/16331"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}