{"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_feature_clip_id":0,"_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 v28.1 - 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 number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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.","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}]}}