{"id":17821,"date":"2019-02-01T23:29:52","date_gmt":"2019-02-01T23:29:52","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=17821"},"modified":"2019-02-01T23:29:52","modified_gmt":"2019-02-01T23:29:52","slug":"asx-200-financials-test-key-support-ahead-of-hayne-report","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/02\/01\/asx-200-financials-test-key-support-ahead-of-hayne-report\/","title":{"rendered":"ASX 200 Financials test key support ahead of Hayne report"},"content":{"rendered":"<p>A long-term view of ASX 200 Financials shows the index testing key support at 5300, confirming the selling pressure signaled by bearish divergence on Twiggs Money Flow. Breach of support is likely, especially with the final report of the Royal Commission on Banking due for release on Monday. Breach would offer a target of 4000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-02-01-xfj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Financials\" \/><\/p>\n<p>The Materials index continues in a primary up-trend, assisted by a surge in iron ore prices caused by the temporary shut-down of iron ore mining in Brazil as tailings dams are inspected after the recent disaster.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-02-01-xmj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Materials\" \/><\/p>\n<p>Financials is the largest sector in the ASX 200. Respect of 6000 is likely and reversal below 5650 would signal a primary decline, with a target of the 2016 low at 4700.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-02-01-xjow.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>I have been cautious on Australian stocks, especially banks, for a while, and hold more than 40% in cash and fixed interest investments 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>A long-term view of ASX 200 Financials shows the index testing key support at 5300, confirming the selling pressure signaled by bearish divergence on Twiggs Money Flow. Breach of support is likely, especially with the final report of the Royal Commission on Banking due for release on Monday. Breach would offer a target of 4000. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/02\/01\/asx-200-financials-test-key-support-ahead-of-hayne-report\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 Financials test key support ahead of Hayne report&#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":[251,3987,3988],"class_list":["post-17821","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","tag-asx-200-financials-index","tag-asx-200-materials-index"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200 Financials test key support ahead of Hayne report - 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 Financials test key support ahead of Hayne report - the patient investor\" \/>\n<meta property=\"og:description\" content=\"A long-term view of ASX 200 Financials shows the index testing key support at 5300, confirming the selling pressure signaled by bearish divergence on Twiggs Money Flow. Breach of support is likely, especially with the final report of the Royal Commission on Banking due for release on Monday. Breach would offer a target of 4000. &hellip; Continue reading &quot;ASX 200 Financials test key support ahead of Hayne report&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/02\/01\/asx-200-financials-test-key-support-ahead-of-hayne-report\/\" \/>\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=\"2019-02-01T23:29:52+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-02-01-xfj.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\\\/02\\\/01\\\/asx-200-financials-test-key-support-ahead-of-hayne-report\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/02\\\/01\\\/asx-200-financials-test-key-support-ahead-of-hayne-report\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX 200 Financials test key support ahead of Hayne report\",\"datePublished\":\"2019-02-01T23:29:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/02\\\/01\\\/asx-200-financials-test-key-support-ahead-of-hayne-report\\\/\"},\"wordCount\":151,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2019\\\/02\\\/01\\\/asx-200-financials-test-key-support-ahead-of-hayne-report\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2019-02-01-xfj.png\",\"keywords\":[\"ASX 200\",\"ASX 200 Financials Index\",\"ASX 200 Materials Index\"],\"articleSection\":[\"Australia &amp; 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Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\",\"name\":\"Colin Twiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"caption\":\"Colin Twiggs\"},\"description\":\"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. 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 200 Financials test key support ahead of Hayne report - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"ASX 200 Financials test key support ahead of Hayne report - the patient investor","og_description":"A long-term view of ASX 200 Financials shows the index testing key support at 5300, confirming the selling pressure signaled by bearish divergence on Twiggs Money Flow. Breach of support is likely, especially with the final report of the Royal Commission on Banking due for release on Monday. 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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-4Dr","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":17886,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/02\/15\/asx-200-enjoys-iron-ore-spike\/","url_meta":{"origin":17821,"position":0},"title":"ASX 200 enjoys iron ore spike","author":"Colin Twiggs","date":"February 15, 2019","format":false,"excerpt":"The ASX 200 has been buoyed by a temporary spike in iron ore prices. Materials (comprising 18.5% of the main index) broke through resistance at 12500, signaling a primary advance. A higher trough on Twiggs Money Flow indicates buying pressure. The ASX 200 encountered resistance at 6100 but the rally\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":19023,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/10\/05\/asx-200-hits-a-brick-wall\/","url_meta":{"origin":17821,"position":1},"title":"ASX 200 hits a brick wall","author":"Colin Twiggs","date":"October 5, 2019","format":false,"excerpt":"The ASX 200 retreated sharply from stubborn resistance at the 2007 high of 6800, like hitting a brick wall. Breach of support at 6400, after a lower high, is now more likely and would offer a target of 5400. Iron ore continues to test short-term support at $90. Breach is\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":57671,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/09\/21\/asx-retraces\/","url_meta":{"origin":17821,"position":2},"title":"ASX retraces","author":"Colin Twiggs","date":"September 21, 2024","format":false,"excerpt":"A tall shadow on the ASX 200 indicates short-term selling pressure and a likely retracement to test its new support level at 8100. Financials continue their advance, but gradually, with lower Trend Index peaks warning that buying pressure is fading. The ASX 300 Metals & Mining Index hesitated after its\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 Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-20-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-20-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-20-xjo.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":26197,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/06\/asx-breakout\/","url_meta":{"origin":17821,"position":3},"title":"ASX breakout","author":"Colin Twiggs","date":"June 6, 2021","format":false,"excerpt":"The ASX 200 broke through resistance at 7200, signaling a fresh primary advance. Target for the breakout is 80001. Bond ETFs continue their sideways ranging pattern, suggesting no upward pressure on long-term interest rates. Financials broke through resistance at 6500, signaling another advance with a target of 80002. 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":[]},{"id":29876,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/12\/11\/asx-financials-and-iron-ore-headwinds\/","url_meta":{"origin":17821,"position":4},"title":"ASX: Financials and Iron ore headwinds","author":"Colin Twiggs","date":"December 11, 2021","format":false,"excerpt":"The ASX 200 rallied strongly mid-week but ran into resistance at 7400. The Trend Index indicates mild selling pressure and respect of 7300 would be a bullish sign. Breach of 7300 is less likely but would warn of another test of primary support at 7200. Bond ETFs are rallying but\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\/2021\/2021-12-10-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-12-10-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-12-10-xjo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-12-10-xjo.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":19362,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/11\/04\/asx-iron-ore-breaks-support\/","url_meta":{"origin":17821,"position":5},"title":"ASX: Iron ore breaks support","author":"Colin Twiggs","date":"November 4, 2019","format":false,"excerpt":"Iron ore broke support at 90, falling sharply to $83.55\/ton. Expect a decline to test the long-term target at 65. ASX 300 Metals & Mining index rallied slightly but another test of support at 4100 is likely -- the neckline of a large head-and-shoulders reversal pattern. Declining peaks on the\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\/17821","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=17821"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17821\/revisions"}],"predecessor-version":[{"id":17822,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17821\/revisions\/17822"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=17821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=17821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=17821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}