{"id":17937,"date":"2019-03-02T00:24:10","date_gmt":"2019-03-02T00:24:10","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=17937"},"modified":"2019-03-02T00:24:10","modified_gmt":"2019-03-02T00:24:10","slug":"asx-200-hanging-despite-bank-rise","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/03\/02\/asx-200-hanging-despite-bank-rise\/","title":{"rendered":"ASX 200 hanging despite bank rise"},"content":{"rendered":"<p>ASX 200 Financials broke through resistance at 5900\/6000 while bullish divergence on Twiggs Money Flow signals buying pressure. The primary trend remains down but it appears that a base is forming. I remain wary of banks because of declining house prices but <em>you can&#8217;t argue with the tape<\/em>. A higher trough on the next correction would confirm a reversal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-03-01-xfj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Financials\" \/><\/p>\n<p>The ASX 200 shows another <a href=\"https:\/\/www.incrediblecharts.com\/candlestick_patterns\/candlestick-patterns.php#candlestick_hanging_man\">hanging man candlestick<\/a> at 6200 on the weekly chart, signaling hesitancy. The primary trend is down and the index is due for a correction soon. A higher trough would reverse the down-trend but there is a lot of uncertainty in global markets.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-03-01-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>The Materials sector is retracing to test its new support level at 12500 after meeting resistance at 13000. The primary trend is upward and breach of 12500 is unlikely.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-03-01-xmj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Materials\" \/><\/p>\n<p>I remain cautious on Australian stocks and hold more than 40% in cash and fixed interest 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>ASX 200 Financials broke through resistance at 5900\/6000 while bullish divergence on Twiggs Money Flow signals buying pressure. The primary trend remains down but it appears that a base is forming. I remain wary of banks because of declining house prices but you can&#8217;t argue with the tape. A higher trough on the next correction &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/03\/02\/asx-200-hanging-despite-bank-rise\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 hanging despite bank rise&#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":[251,4003,4004],"class_list":["post-17937","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","tag-asx-200-financials","tag-asx-200-materials"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200 hanging despite bank rise - 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 hanging despite bank rise - the patient investor\" \/>\n<meta property=\"og:description\" content=\"ASX 200 Financials broke through resistance at 5900\/6000 while bullish divergence on Twiggs Money Flow signals buying pressure. The primary trend remains down but it appears that a base is forming. I remain wary of banks because of declining house prices but you can&#8217;t argue with the tape. 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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-4Fj","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":17937,"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":17909,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/02\/25\/asx-200-buoyant-but-banks-a-worry\/","url_meta":{"origin":17937,"position":1},"title":"ASX 200 buoyant but banks a worry","author":"Colin Twiggs","date":"February 25, 2019","format":false,"excerpt":"The Materials sector (18.5% of the ASX 200 index) continues its advance, buoyed by a temporary iron ore shortage and positive spin on US-China trade talks. The higher trough on Twiggs Money Flow below confirms buying pressure. ASX 200 Financials (31.4% of the main index) are testing resistance at 5900\/6000\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":18218,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/05\/17\/asx-200-recovers-as-aussie-dollar-plunges\/","url_meta":{"origin":17937,"position":2},"title":"ASX 200 recovers as Aussie Dollar plunges","author":"Colin Twiggs","date":"May 17, 2019","format":false,"excerpt":"The Aussie Dollar broke long-term support at 70 US cents (as shown on the quarterly chart below), closing below 69 cents. Target for the decline is 60 cents. The ASX 200, reflecting the counter-balance between its two largest sectors, recovered to test resistance at 6350. The Trend Index trough above\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18084,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/04\/05\/asx-200-offshore-investors-retreat\/","url_meta":{"origin":17937,"position":3},"title":"ASX 200 offshore investors retreat","author":"Colin Twiggs","date":"April 5, 2019","format":false,"excerpt":"The ASX has undergone a sell-off in the last two days, presumed to be offshore investors withdrawing from Australian investments. Bell Direct equities analyst Julia Lee (Thursday) said it appeared that overseas investors - or even just one large player - had pulled their money from the Australian market, as\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":26197,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/06\/asx-breakout\/","url_meta":{"origin":17937,"position":4},"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":33699,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/05\/28\/asx-sector-opportunities-and-threats-2\/","url_meta":{"origin":17937,"position":5},"title":"ASX sector opportunities and threats","author":"Colin Twiggs","date":"May 28, 2022","format":false,"excerpt":"The ASX 200 continues to test resistance at the former primary support level of 7200. Respect would confirm a bear market, while recovery above 7200 would suggest a weakening down-trend. Rising Trend Index troughs signal increased buyer interest. The ASX 200 rally is in part caused by easing long-term interest\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\/2022-05-27-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-05-27-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-05-27-xjo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-05-27-xjo.png?resize=700%2C400&ssl=1 2x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17937","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=17937"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17937\/revisions"}],"predecessor-version":[{"id":17938,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/17937\/revisions\/17938"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=17937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=17937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=17937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}