{"id":16841,"date":"2018-08-17T07:14:10","date_gmt":"2018-08-17T07:14:10","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16841"},"modified":"2018-08-17T07:14:10","modified_gmt":"2018-08-17T07:14:10","slug":"asx-200-breakout-2","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/17\/asx-200-breakout-2\/","title":{"rendered":"ASX 200 breakout"},"content":{"rendered":"

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.<\/p>\n

\"ASX<\/p>\n

The ASX 300 Banks index followed through above 8100, indicating another rally with a medium-term target of 8500 (long-term 8750).<\/p>\n

\"ASX<\/p>\n

But the ASX 300 Metals & Mining index broke support at 3750, warning of a test of primary support at 3400. Fears of a US-China trade war are likely to undermine commodity prices.<\/p>\n

\"ASX<\/p>\n

I am also wary of banks because of higher funding costs, falling credit growth and rising default risk<\/a> .<\/p>\n

So the primary trend on the ASX 200 is up but I remain cautious, holding over 30% cash in the Australian Growth<\/a> portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 the ASX 300 Metals & … <\/p>\n

Continue reading “ASX 200 breakout”<\/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":[40,41,57],"tags":[251,261,263],"class_list":["post-16841","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-china-hk","category-stock-markets","tag-asx-200","tag-asx-300-banks-index","tag-asx-300-metals-mining-index"],"yoast_head":"\nASX 200 breakout - 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 breakout - the patient investor\" \/>\n<meta property=\"og:description\" content=\"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). 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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-4nD","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":16824,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/11\/asx-200-buying-pressure\/","url_meta":{"origin":16841,"position":0},"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 "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":19606,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/11\/asx-200-breakout-4\/","url_meta":{"origin":16841,"position":1},"title":"ASX 200 breakout","author":"Colin Twiggs","date":"January 11, 2020","format":false,"excerpt":"The ASX 200 broke resistance at 6800, signaling a fresh advance. Expect retracement to test the new support level; respect would strengthen the bull signal. Primary driver of the advance is resources. Talk of an imminent phase 1 US-China trade deal lifted iron ore, which is now testing resistance at\u2026","rel":"","context":"In "Aussie dollar"","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":15263,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/12\/asx-200-bearish-consolidation\/","url_meta":{"origin":16841,"position":2},"title":"ASX 200 bearish consolidation","author":"ColinTwiggs","date":"May 12, 2017","format":false,"excerpt":"The big banks fell sharply on news of a new levy on bank liabilities in the latest budget. At this stage the ASX 300 Banks Index merely shows a secondary reaction. Breach of 8500, however, would signal a primary trend reversal, offering a medium-term target of 8000*. * Target: 8500\u2026","rel":"","context":"In "Aussie dollar"","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":16313,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/26\/banks-hurt-the-asx\/","url_meta":{"origin":16841,"position":3},"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 "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":16841,"position":4},"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":22649,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/11\/14\/asx-rallies-on-restriction-easing\/","url_meta":{"origin":16841,"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 "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\/16841","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=16841"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16841\/revisions"}],"predecessor-version":[{"id":16842,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16841\/revisions\/16842"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}