{"id":16890,"date":"2018-08-24T23:10:55","date_gmt":"2018-08-24T23:10:55","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16890"},"modified":"2018-08-24T23:11:33","modified_gmt":"2018-08-24T23:11:33","slug":"asx-200-hurt-by-banks-and-miners","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/24\/asx-200-hurt-by-banks-and-miners\/","title":{"rendered":"ASX 200 hurt by banks, miners and politics"},"content":{"rendered":"

After a false break above 8100 the ASX 300 Banks index completed a bull trap with reversal below 7900. Expect a test of primary support at 7300.<\/p>\n

\"ASX<\/p>\n

Resources stocks continued their correction, with the ASX 300 Metals & Mining index finding short-term support at 3600. Follow-through is likely and would test primary support at 3400, with fears of a US-China trade war undermining commodity prices.<\/p>\n

\"ASX<\/p>\n

The ASX 200 retreated below its new support level at 6300. Political upheaval may have contributed but penetration of the rising trendline would warn of a correction (already signaled by bearish Divergence on the Trend Index).<\/p>\n

\"ASX<\/p>\n

I remain wary of banks because of higher funding costs, falling credit growth and rising default risk<\/a> and cautious on Australian stocks, holding over 30% cash in the Australian Growth<\/a> portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"

After a false break above 8100 the ASX 300 Banks index completed a bull trap with reversal below 7900. Expect a test of primary support at 7300. Resources stocks continued their correction, with the ASX 300 Metals & Mining index finding short-term support at 3600. Follow-through is likely and would test primary support at 3400, … <\/p>\n

Continue reading “ASX 200 hurt by banks, miners and politics”<\/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":[251,261,262],"class_list":["post-16890","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"],"yoast_head":"\nASX 200 hurt by banks, miners and politics - 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 hurt by banks, miners and politics - the patient investor\" \/>\n<meta property=\"og:description\" content=\"After a false break above 8100 the ASX 300 Banks index completed a bull trap with reversal below 7900. Expect a test of primary support at 7300. Resources stocks continued their correction, with the ASX 300 Metals & Mining index finding short-term support at 3600. 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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":16890,"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":16313,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/05\/26\/banks-hurt-the-asx\/","url_meta":{"origin":16890,"position":2},"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":17085,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/22\/asx-200-banks-lack-support-but-miners-receive-a-boost\/","url_meta":{"origin":16890,"position":3},"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":[]},{"id":19476,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/22\/asx-200-banks-break-support\/","url_meta":{"origin":16890,"position":4},"title":"ASX 200: Banks break support","author":"Colin Twiggs","date":"November 22, 2019","format":false,"excerpt":"ASX 300 Banks index broke support at 7600, signaling a correction to test primary support at 6750. Declining peaks on the Trend Index confirm selling pressure. The ASX 200 REITs index has formed a bearish descending triangle. Breach of support at 1600 would warn of a correction. It seems unlikely\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":16796,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/04\/asx-200-retreats-3\/","url_meta":{"origin":16890,"position":5},"title":"ASX 200 retreats","author":"Colin Twiggs","date":"August 4, 2018","format":false,"excerpt":"The two largest sectors in the ASX 200 are both retreating from recent highs. The ASX 300 Metals & Mining index is testing support at 3750. Breach of support and the rising trendline would warn of a test of primary support at 3400. The ASX 300 Banks index reversed below\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\/16890","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=16890"}],"version-history":[{"count":3,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16890\/revisions"}],"predecessor-version":[{"id":16893,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16890\/revisions\/16893"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}