{"id":16765,"date":"2018-07-28T02:58:46","date_gmt":"2018-07-28T02:58:46","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16765"},"modified":"2018-07-28T03:58:19","modified_gmt":"2018-07-28T03:58:19","slug":"bears-in-the-east-bulls-in-the-west","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/28\/bears-in-the-east-bulls-in-the-west\/","title":{"rendered":"Bears in the East, Bulls in the West"},"content":{"rendered":"<p>Market fears of a trade war appear to be easing but investors in China and South Korea remain cautious.<\/p>\n<p>The Shanghai Composite Index is retracing to test resistance at the former primary support level at 3000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-ssec.png?w=525&#038;ssl=1\" alt=\"Shanghai Composite Index\" \/><\/p>\n<p>Dow Jones &#8211; UBS Commodity Index shows a similar retracement in commodity prices.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-dubs.png?w=525&#038;ssl=1\" alt=\"DJ-UBS Commodity Index\" \/><\/p>\n<p>While crude oil prices have found support at the LT rising trendline.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-crude.png?w=525&#038;ssl=1\" alt=\"Nymex Light Crude\" \/><\/p>\n<p>South Korea&#8217;s Seoul Composite Index is in a primary down-trend but retracement to test the former primary support level at 2350 is likely.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-ks11.png?w=525&#038;ssl=1\" alt=\"Seoul Composite Index\" \/><\/p>\n<p>Japan is more isolated and the Nikkei 225 is testing resistance at 23,000. A rising Trend Index suggests that breakout is likely, which would test the January high at 24,000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-n225.png?w=525&#038;ssl=1\" alt=\"Nikkei 225 Index\" \/><\/p>\n<p>India is stronger, with the Nifty breaking resistance at its January high of 11,100 to signal a primary advance with a target of 12,000. But first, expect retracement to test the new support level.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-nsx.png?w=525&#038;ssl=1\" alt=\"Nifty Index\" \/><\/p>\n<h2>Europe<\/h2>\n<p>Dow Jones Euro Stoxx 600 was boosted by news that the EU-US trade dispute is settled. A Trend Index trough above zero signals strong buying pressure. and another test of 400 is likely.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-sxxp.png?w=525&#038;ssl=1\" alt=\"DJ Euro Stoxx 600 Index\" \/><\/p>\n<p>A bullish saucer pattern on the Footsie suggest further gains. The Trend Index trough above zero indicates buying pressure. Breakout of the index above 7800 would signal another advance, with a target of 8200.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-ftse.png?w=525&#038;ssl=1\" alt=\"FTSE 100 Index\" \/><\/p>\n<h2>North America<\/h2>\n<p>The Nasdaq 100 retreated when Facebook (FB) and Twitter (TWTR) reported disappointing growth for the quarter. Bearish divergence on the Trend Index warns of selling pressure but this appears secondary and support at 7000 is likely to hold. Respect would confirm another advance.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-ndx.png?w=525&#038;ssl=1\" alt=\"Nasdaq 100\" \/><\/p>\n<p>Friday&#8217;s retreat is also evident on the S&amp;P 500 daily chart. Expect retracement to test new support at 2800. A <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/28\/bullish-gdp-numbers-for-the-us\/\">strong GDP result<\/a> should strengthen support.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-spx.png?w=525&#038;ssl=1\" alt=\"S&amp;P 500\" \/><\/p>\n<p>Canada&#8217;s TSX 60 retraced to test the new support level at 970. Respect would signal a test of 1000 but breach is as likely, testing support at 940.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-27-tsx.png?w=525&#038;ssl=1\" alt=\"TSX 60 Index\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Market fears of a trade war appear to be easing but investors in China and South Korea remain cautious. The Shanghai Composite Index is retracing to test resistance at the former primary support level at 3000. Dow Jones &#8211; UBS Commodity Index shows a similar retracement in commodity prices. While crude oil prices have found &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/28\/bears-in-the-east-bulls-in-the-west\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bears in the East, Bulls in the West&#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":[41,43,44,12,17,57,33,34],"tags":[3781,1481,2215,2401,2479,2510,3010,3086,3100,3503],"class_list":["post-16765","post","type-post","status-publish","format-standard","hentry","category-china-hk","category-commodities-gold-commodities","category-crude-oil-natural-gas","category-india-singapore-countries-regions","category-japan-korea","category-stock-markets","category-uk-europe-countries-regions","category-us-canada-countries-regions","tag-dow-jones-euro-stoxx-600","tag-ftse-100","tag-margaret-thatcher","tag-nasdaq-100","tag-nikkei-225-index","tag-nse-nifty-index","tag-sp-500","tag-seoul-composite-index","tag-shanghai-composite-index","tag-tsx-60"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bears in the East, Bulls in the West - 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=\"Bears in the East, Bulls in the West - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Market fears of a trade war appear to be easing but investors in China and South Korea remain cautious. The Shanghai Composite Index is retracing to test resistance at the former primary support level at 3000. Dow Jones &#8211; UBS Commodity Index shows a similar retracement in commodity prices. 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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-4mp","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":8160,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/24\/gold-rises-as-the-dollar-falls\/","url_meta":{"origin":16765,"position":0},"title":"Gold rises as the dollar falls","author":"ColinTwiggs","date":"July 24, 2013","format":false,"excerpt":"Gold broke resistance at $1300\/ounce, penetration of the descending trendline indicating that a bottom is forming. Reversal below $1300 would suggest another test of primary support at $1200. Respect of support at $1300 and breakout above $1350 is unlikely, but would target $1400. Dollar Index The Dollar Index is headed\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10260,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/09\/commodities-weak-except-for-crude\/","url_meta":{"origin":16765,"position":1},"title":"Commodities weak except for crude","author":"ColinTwiggs","date":"July 9, 2014","format":false,"excerpt":"Chinese stocks test long-term support Commodities weaken Crude oil remains high China's Shanghai Composite Index continues to test long-term support. 13-Week Twiggs Momentum holding below zero suggests continuation of the primary down-trend. Commodity prices are weakening, with Dow Jones-UBS Commodity Index breaking support at 133 to warn of another test\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"Shanghai Composite Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-09-ssec.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-09-ssec.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-09-ssec.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":31457,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/03\/12\/oil-gold-soar-as-equities-plunge\/","url_meta":{"origin":16765,"position":2},"title":"Oil &#038; Gold soar as equities plunge","author":"Colin Twiggs","date":"March 12, 2022","format":false,"excerpt":"Brent crude is retracing to test support at $100 per barrel. Respect is likely and would signal another advance, with a target of $155 -- calculated by extending the range of the last rally (125 - 95) above resistance at $125. DJ-UBS Commodity Index also retraced, testing support at 125.\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"Brent Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-11-crude.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":8338,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/08\/28\/commodities-rise-as-the-dollar-falls\/","url_meta":{"origin":16765,"position":3},"title":"Commodities rise as the Dollar falls","author":"ColinTwiggs","date":"August 28, 2013","format":false,"excerpt":"Dollar Index The Dollar Index is testing primary support at 80.50. Bearish divergence on weekly Twiggs Momentum warns of a primary down-trend and breach of support at 80.50 would confirm. Respect of support and recovery above 82, however, would indicate an up-swing to 84.50. Crude Oil Nymex WTI light crude\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7812,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/05\/30\/gold-two-elephants-in-a-lifeboat\/","url_meta":{"origin":16765,"position":4},"title":"Gold: Two elephants in a lifeboat","author":"ColinTwiggs","date":"May 30, 2013","format":false,"excerpt":"There are currently two players destabilizing global financial markets -- like elephants in a lifeboat. One is the Bank of Japan, with markets uncertain as to how massive expansion of the monetary base will play out. The second is the Fed, where hints of a taper were enough to send\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10218,"url":"https:\/\/thepatientinvestor.com\/index.php\/2014\/07\/03\/enough-to-make-gazputin-smile\/","url_meta":{"origin":16765,"position":5},"title":"Enough to make Gazputin grin","author":"ColinTwiggs","date":"July 3, 2014","format":false,"excerpt":"Chinese stocks drift lower Crude oil rising Other commodities weak China's Shanghai Composite Index continues to drift lower on the long-term, monthly chart. Apart from crude oil, commodity prices have fared little better. But crude plays such a dominant role in most commodity indices that they appear more buoyant. Dow\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/commodities-gold-commodities\/"},"img":{"alt_text":"Shanghai Composite Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-03-ssec.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-03-ssec.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2014\/2014-07-03-ssec.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16765","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=16765"}],"version-history":[{"count":2,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16765\/revisions"}],"predecessor-version":[{"id":16771,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16765\/revisions\/16771"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}