{"id":17128,"date":"2018-10-05T07:48:41","date_gmt":"2018-10-05T07:48:41","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=17128"},"modified":"2018-10-05T07:48:41","modified_gmt":"2018-10-05T07:48:41","slug":"asx-200-miners-rally-but-banks-a-worry","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/10\/05\/asx-200-miners-rally-but-banks-a-worry\/","title":{"rendered":"ASX 200: Miners rally but banks a worry"},"content":{"rendered":"

The ASX 200 found support at 6120\/6150, with a long tail indicating buying interest. Follow-through above 6250 would suggest another advance. Breach is now unlikely but would warn of a test of the rising long-term trendline at 6000.<\/p>\n

\"ASX<\/p>\n

A rally on resources stocks helped support the overall index. Expect the ASX 300 Metals & Mining index to test 4000.<\/p>\n

\"ASX<\/p>\n

Miners were helped by a weakening Aussie Dollar. Breach of support at 71 US cents offers a target of 69 cents. Trend Index peaks below zero warn of strong selling pressure.<\/p>\n

\"AUDUSD\"<\/p>\n

Banks, on the other hand, are weakening. The ASX 300 Banks index\u00a0 broke support at 7700, with a declining Trend Index warning of selling pressure. Expect a test of primary support at 7300.<\/p>\n

\"ASX<\/p>\n

Falling broad money and credit growth warn of a contraction \u2014 unless an unlikely Chinese-led mining boom can keep the wolf from the door.<\/p>\n

\"Broad<\/p>\n

House prices are falling.<\/p>\n

\"House<\/p>\n

Returns on bank equity are declining due to increased capital requirements, lower credit growth and narrow margins.<\/p>\n

\"Banks<\/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 200 found support at 6120\/6150, with a long tail indicating buying interest. Follow-through above 6250 would suggest another advance. Breach is now unlikely but would warn of a test of the rising long-term trendline at 6000. A rally on resources stocks helped support the overall index. Expect the ASX 300 Metals & Mining … <\/p>\n

Continue reading “ASX 200: Miners rally but banks a worry”<\/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":[40,31,57],"tags":[251,261,262,3934,3935,867,1743],"class_list":["post-17128","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-the-fed-banks-interest-rates","category-stock-markets","tag-asx-200","tag-asx-300-banks-index","tag-asx-300-metals-mining","tag-bank-profitability","tag-broad-money","tag-credit","tag-housing-prices"],"yoast_head":"\nASX 200: Miners rally but banks a worry - 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: Miners rally but banks a worry - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 200 found support at 6120\/6150, with a long tail indicating buying interest. Follow-through above 6250 would suggest another advance. Breach is now unlikely but would warn of a test of the rising long-term trendline at 6000. A rally on resources stocks helped support the overall index. 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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":17059,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/15\/asx-200-correction-to-test-6000\/","url_meta":{"origin":17128,"position":1},"title":"ASX 200: Correction to test 6000","author":"Colin Twiggs","date":"September 15, 2018","format":false,"excerpt":"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,\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":17128,"position":2},"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":17377,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/11\/09\/bank-miners-rally-should-lift-asx\/","url_meta":{"origin":17128,"position":3},"title":"Bank & miners rally should lift ASX","author":"Colin Twiggs","date":"November 9, 2018","format":false,"excerpt":"The ASX 200 displays a cautious rally, with short candles reflecting an absence of buyer enthusiasm. But bullish divergence on 21-day Twiggs Money Flow indicates longer-term confidence. The monthly chart shows similar rising troughs on 13-week Twiggs Money Flow, reflecting buyer confidence. Recovery above 6000 would be bullish, suggesting another\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":21342,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/08\/29\/asx-miner-hiccup\/","url_meta":{"origin":17128,"position":4},"title":"ASX: Miner hiccup","author":"Colin Twiggs","date":"August 29, 2020","format":false,"excerpt":"Daily new cases of COVID19 are now below 100 (compared to earlier highs of 715\/716). Too early to claim success but we are on the right path. ASX 200 The ASX 200 faltered, with declining Money Flow peaks warning of selling pressure. Breach of support at 5800 would signal a\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":24085,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/02\/13\/asx-hesitant\/","url_meta":{"origin":17128,"position":5},"title":"ASX hesitant","author":"Colin Twiggs","date":"February 13, 2021","format":false,"excerpt":"Iron ore found short-term support at $150\/metric ton but the subsequent bounce is unimpressive, with 13-week Trend Index cutting below its 7-week MA. Expect another test of support at $150. Breach would offer a target of $130\/metric ton. The ASX 300 Metals & Mining index shows a similar pattern, likely\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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17128","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=17128"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17128\/revisions"}],"predecessor-version":[{"id":17129,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17128\/revisions\/17129"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=17128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=17128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=17128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}