{"id":17059,"date":"2018-09-15T03:53:46","date_gmt":"2018-09-15T03:53:46","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=17059"},"modified":"2018-09-15T03:53:46","modified_gmt":"2018-09-15T03:53:46","slug":"asx-200-correction-to-test-6000","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/15\/asx-200-correction-to-test-6000\/","title":{"rendered":"ASX 200: Correction to test 6000"},"content":{"rendered":"

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.<\/p>\n

\"ASX<\/p>\n

The ASX 300 Metals & Mining index is also headed for a test of primary support, at 3400. A Trend Index peak at\/below zero would warn of rising selling pressure and a primary down-trend.<\/p>\n

\"ASX<\/p>\n

Commodities are already in a primary down-trend but Australian stocks are partially cushioned by a weakening Aussie Dollar.<\/p>\n

\"DJ-UBS<\/p>\n

The ASX 200 found medium-term support at 6150 but this unlikely to hold. Bearish Divergence on the Trend Index warns of medium-term selling pressure. Expect a correction to test the rising long-term trendline at 6000.<\/p>\n

\"ASX<\/p>\n

I remain cautious on Australian stocks, holding over 30% cash in the Australian Growth<\/a> portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"

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, at 3400. A Trend Index … <\/p>\n

Continue reading “ASX 200: Correction to test 6000”<\/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-17059","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":"\nASX 200: Correction to test 6000 - 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: Correction to test 6000 - the patient investor\" \/>\n<meta property=\"og:description\" content=\"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, at 3400. 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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-4r9","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":17059,"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 "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":17059,"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":24185,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/02\/20\/asx-3\/","url_meta":{"origin":17059,"position":2},"title":"ASX hesitant","author":"Colin Twiggs","date":"February 20, 2021","format":false,"excerpt":"Iron ore rallied off short-term support at $150\/metric ton and is likely to encounter resistance at $170. A declining Trend Index flags secondary selling pressure and another test of $150 is likely. Tall shadows on the ASX 300 Metals & Mining index similarly indicate short-term selling pressure and another 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":21472,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/09\/12\/asx-200-banks-break-support-2\/","url_meta":{"origin":17059,"position":3},"title":"ASX 200: Banks break support","author":"Colin Twiggs","date":"September 12, 2020","format":false,"excerpt":"The ASX 200 is testing medium-term support at 5800, while declining Money Flow, below zero, warns of selling pressure. Breach of support is likely and would indicate a correction with an immediate target of 5200. Banks & Real Estate The ASX 300 Banks index breached support at 5500, warning 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":[]},{"id":22073,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/10\/17\/asx-hesitates-2\/","url_meta":{"origin":17059,"position":4},"title":"ASX hesitates","author":"Colin Twiggs","date":"October 17, 2020","format":false,"excerpt":"The ASX 200 encountered resistance at 6200. Trend Index holding below zero warns of continuing selling pressure. Expect another test of support at 5800; breach would signal a correction to 5200, with primary support at 4500. The ASX 300 Banks index is headed for a test of 6000 but we\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":22359,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/10\/31\/asx-rising-selling-pressure\/","url_meta":{"origin":17059,"position":5},"title":"ASX: Rising selling pressure","author":"Colin Twiggs","date":"October 31, 2020","format":false,"excerpt":"The ASX 200 retreated from resistance at 6200, headed for another test of support at 5800, while a Money Flow peak below zero warns of strong selling pressure. Breach of 5800 is likely and would warn of a primary decline, testing support at 4500. The ASX 300 Banks index encountered\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\/17059","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=17059"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17059\/revisions"}],"predecessor-version":[{"id":17060,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17059\/revisions\/17060"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=17059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=17059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=17059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}