{"id":17695,"date":"2019-01-04T23:33:03","date_gmt":"2019-01-04T23:33:03","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=17695"},"modified":"2019-01-04T23:33:03","modified_gmt":"2019-01-04T23:33:03","slug":"asx-awaits-bear-market-confirmation","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/","title":{"rendered":"ASX awaits bear market confirmation"},"content":{"rendered":"<p>The ASX 200 is testing the former band of primary support between 5650 and 5750. Respect is likely and would confirm a bear market for Australian stocks. Target for a primary decline is 5000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-01-04-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>ASX 300 Metals &amp; Mining Index is testing primary support at 3400. Declining Trend Index peaks warn of selling pressure. Breach of 3400 would confirm a primary down-trend, strengthening the bear signal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-01-04-xmm.png?w=525&#038;ssl=1\" alt=\"ASX 300 Metals &amp; Mining\" \/><\/p>\n<p>House prices are falling but this has not yet had an impact on the record high ratio of household debt to disposable income. Wages growth is slow and it will take a long time for debt ratios to return to saner levels. Expect the housing bear market to last for a similar length of time unless the RBA is desperate enough to make further rate cuts.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-01-04-hhdebt.png?w=525&#038;ssl=1\" alt=\"RBA: Credit &amp; Broad Money\" \/><\/p>\n<p>Bank performance is closely aligned with the housing market. The ASX 300 Banks Index is testing long-term support at 7000. Declining Trend Index peaks warn of selling pressure. Breach of support at 7000 is likely to lead to another decline, with a long-term target of 5000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-01-04-xbak.png?w=525&#038;ssl=1\" alt=\"ASX 300 Banks Index\" \/><\/p>\n<p>I have been cautious on Australian stocks, especially banks, for a while, and hold 40% 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 200 is testing the former band of primary support between 5650 and 5750. Respect is likely and would confirm a bear market for Australian stocks. Target for a primary decline is 5000. ASX 300 Metals &amp; Mining Index is testing primary support at 3400. Declining Trend Index peaks warn of selling pressure. Breach &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX awaits bear market confirmation&#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":[251,260,262,1726,1732],"class_list":["post-17695","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","tag-household-debt","tag-housing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX awaits bear market confirmation - 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 awaits bear market confirmation - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 200 is testing the former band of primary support between 5650 and 5750. Respect is likely and would confirm a bear market for Australian stocks. Target for a primary decline is 5000. ASX 300 Metals &amp; Mining Index is testing primary support at 3400. Declining Trend Index peaks warn of selling pressure. Breach &hellip; Continue reading &quot;ASX awaits bear market confirmation&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/\" \/>\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=\"2019-01-04T23:33:03+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-01-04-xjo.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\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX awaits bear market confirmation\",\"datePublished\":\"2019-01-04T23:33:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/\"},\"wordCount\":192,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-01-04-xjo.png\",\"keywords\":[\"ASX 200\",\"ASX 300 Banks\",\"ASX 300 Metals &amp; Mining\",\"household debt\",\"housing\"],\"articleSection\":[\"Australia &amp; NZ\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/\",\"name\":\"ASX awaits bear market confirmation - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-01-04-xjo.png\",\"datePublished\":\"2019-01-04T23:33:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-01-04-xjo.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-01-04-xjo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/01\/04\/asx-awaits-bear-market-confirmation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX awaits bear market confirmation\"}]},{\"@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. 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\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ASX awaits bear market confirmation - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"ASX awaits bear market confirmation - the patient investor","og_description":"The ASX 200 is testing the former band of primary support between 5650 and 5750. Respect is likely and would confirm a bear market for Australian stocks. Target for a primary decline is 5000. ASX 300 Metals &amp; Mining Index is testing primary support at 3400. Declining Trend Index peaks warn of selling pressure. 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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-4Bp","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":17670,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/15\/asx-200-breaks-support-4\/","url_meta":{"origin":17695,"position":0},"title":"ASX 200 breaks support","author":"Colin Twiggs","date":"December 15, 2018","format":false,"excerpt":"The ASX 200 broke primary support at 5650, signaling a down-trend. Trend Index peaks at zero warn of selling pressure. Expect retracement to test the new resistance level but respect of 5750 is likely and would confirm a bear market. Target for a primary decline is 5000. ASX 300 Metals\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":17539,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/12\/05\/asx-200-heads-for-a-bear-market\/","url_meta":{"origin":17695,"position":1},"title":"ASX 200 heads for a bear market","author":"Colin Twiggs","date":"December 5, 2018","format":false,"excerpt":"The ASX 200 dipped below primary support at 5650, signaling a primary down-trend. A Trend Index peak at the zero line warns of strong selling pressure. The market is still open, and a lot can happen by the close, but the prospect of a bear market is now close at\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":16796,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/08\/04\/asx-200-retreats-3\/","url_meta":{"origin":17695,"position":2},"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 &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":30614,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/01\/25\/asx-signals-a-bear-market\/","url_meta":{"origin":17695,"position":3},"title":"ASX signals a bear market","author":"Colin Twiggs","date":"January 25, 2022","format":false,"excerpt":"The ASX 200 broke support at 7200, signaling a primary down-trend. The declining Trend Index has warned of fading buying pressure for several months. Expect retracement to test the new 7200 resistance level but respect is likely and would confirm the primary down-trend. The largest sector, Financials, similarly broke support\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":"ASX 200","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-25-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-25-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-25-xjo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-01-25-xjo.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":15525,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/30\/asx-selling-pressure-despite-iron-ore-rally\/","url_meta":{"origin":17695,"position":4},"title":"ASX selling pressure despite iron ore rally","author":"ColinTwiggs","date":"June 30, 2017","format":false,"excerpt":"Iron ore roared back, breaking resistance at $60. But this is a bear market. Also port inventories are climbing, while housing price growth is slowing. Expect another test of support at $50 is likely. Breach would signal another decline. The ASX 300 Metals & Mining index rallied off support at\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":15565,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/07\/asx-200-banks-run-into-strong-resistance\/","url_meta":{"origin":17695,"position":5},"title":"ASX 200: Banks run into strong resistance","author":"ColinTwiggs","date":"July 7, 2017","format":false,"excerpt":"Iron ore peaked at $60. Expect a sharp fall to test support between $50 and $52, typical of a bear market. Chinese housing price growth -- a key driver of iron ore prices as illustrated last week -- is slowing and likely to drag ore prices lower. The ASX 300\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\/17695","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=17695"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17695\/revisions"}],"predecessor-version":[{"id":17696,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17695\/revisions\/17696"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=17695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=17695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=17695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}