{"id":16824,"date":"2018-08-11T00:27:17","date_gmt":"2018-08-11T00:27:17","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16824"},"modified":"2018-08-11T00:27:17","modified_gmt":"2018-08-11T00:27:17","slug":"asx-200-buying-pressure","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/11\/asx-200-buying-pressure\/","title":{"rendered":"ASX 200 buying pressure"},"content":{"rendered":"<p>The ASX 300 Metals &amp; Mining index continues to test support at 3750. Breach of support and the rising trendline would warn of a correction to 3400.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-08-10-xmm.png?w=525&#038;ssl=1\" alt=\"ASX 300 Metals &amp; Mining\" \/><\/p>\n<p>The ASX 300 Banks index recovered above 8000, the false break suggesting another rally, targeting 8500.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-08-10-xbak.png?w=525&#038;ssl=1\" alt=\"ASX 300 Banks Index\" \/><\/p>\n<p>I remain wary of banks, however, because of <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/05\/australia-the-good-news-and-the-bad-news\/\">higher funding costs, falling credit growth and rising default risk<\/a> .<\/p>\n<p>The ASX 200 continues to test resistance at 6300. Rising Twiggs Money Flow troughs signal buying pressure. Breakout above 6300 would present a short-term target of 6500.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-08-10-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>The primary trend is upward but <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/05\/australia-the-good-news-and-the-bad-news\/\">economic indicators<\/a> and the potential impact of a US-China trade war make me cautious. I hold more than 30% cash in the <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/03\/australian-growth-portfolio\/\">Australian Growth<\/a> portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ASX 300 Metals &amp; 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 of higher funding costs, falling &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/11\/asx-200-buying-pressure\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 buying pressure&#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":[251,261,263],"class_list":["post-16824","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":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200 buying pressure - 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 buying pressure - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 300 Metals &amp; 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 of higher funding costs, falling &hellip; Continue reading &quot;ASX 200 buying pressure&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/11\/asx-200-buying-pressure\/\" \/>\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=\"2018-08-11T00:27:17+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-08-10-xmm.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\\\/08\\\/11\\\/asx-200-buying-pressure\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX 200 buying pressure\",\"datePublished\":\"2018-08-11T00:27:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/\"},\"wordCount\":111,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-08-10-xmm.png\",\"keywords\":[\"ASX 200\",\"ASX 300 Banks Index\",\"ASX 300 Metals &amp; Mining Index\"],\"articleSection\":[\"Australia &amp; NZ\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/\",\"name\":\"ASX 200 buying pressure - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-08-10-xmm.png\",\"datePublished\":\"2018-08-11T00:27:17+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-08-10-xmm.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-08-10-xmm.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/08\\\/11\\\/asx-200-buying-pressure\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200 buying pressure\"}]},{\"@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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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-4nm","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":22785,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/21\/asx-risk-on\/","url_meta":{"origin":16824,"position":0},"title":"ASX risk-on","author":"Colin Twiggs","date":"November 21, 2020","format":false,"excerpt":"The ASX 200 followed through above 6400, signaling another test of the February high at 7100. Expect retracement to test the new support level at 6200. Rising Trend Index troughs indicate buying pressure. The train has left the station ahead of time, with the ASX 300 Banks index follow-through above\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":22926,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/28\/asx-expected-to-retrace\/","url_meta":{"origin":16824,"position":1},"title":"ASX: Cautious on banks","author":"Colin Twiggs","date":"November 28, 2020","format":false,"excerpt":"The ASX 200 rallied strongly after breakout above 6200 but now looks set for a retracement to test the new support level. Twiggs Money Flow at zero continues to warn of long-term selling pressure. The ASX 300 Banks index encountered resistance at 7000 and is likely to retrace 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":16841,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/17\/asx-200-breakout-2\/","url_meta":{"origin":16824,"position":2},"title":"ASX 200 breakout","author":"Colin Twiggs","date":"August 17, 2018","format":false,"excerpt":"Strong earnings reports and continued interest in major banks lifted the ASX 200. Rising Trend Index troughs signal buying pressure. Breakout above 6300 offers a short-term target of 6500. The ASX 300 Banks index followed through above 8100, indicating another rally with a medium-term target of 8500 (long-term 8750). 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":[]},{"id":22213,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/10\/24\/asx-200-meets-resistance-2\/","url_meta":{"origin":16824,"position":3},"title":"ASX 200 meets resistance","author":"Colin Twiggs","date":"October 24, 2020","format":false,"excerpt":"The ASX 200 met resistance at 6200, signaled by narrow ranges and declining Money Flow. Expect another test of support at 5800. Breach would warn of a primary decline, with support at 4500. The ASX 300 Banks index similarly found resistance at 6000, with narrow ranges indicating short-term selling pressure.\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":16932,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/01\/asx-200-hesitant-3\/","url_meta":{"origin":16824,"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 &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":22649,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/14\/asx-rallies-on-restriction-easing\/","url_meta":{"origin":16824,"position":5},"title":"ASX rallies on restriction easing","author":"Colin Twiggs","date":"November 14, 2020","format":false,"excerpt":"Easing of restrictions after Victoria posted 15 straight days of zero new cases and news of a highly effective COVID-19 vaccine from Pfizer helped to lift investor sentiment on the ASX. The ASX 200 broke through resistance at 6200, signaling another test of the February high at 7100. Breach of\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\/16824","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=16824"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16824\/revisions"}],"predecessor-version":[{"id":16825,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16824\/revisions\/16825"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}