{"id":19725,"date":"2020-02-01T06:07:00","date_gmt":"2020-02-01T06:07:00","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19725"},"modified":"2020-02-01T06:07:00","modified_gmt":"2020-02-01T06:07:00","slug":"the-sp-500-and-plan-b","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/","title":{"rendered":"The S&#038;P 500 and Plan B"},"content":{"rendered":"<p>The S&amp;P 500 penetrated its rising trendline, warning of a re-test of support at 3000. But selling pressure on the Trend Index appears to be secondary.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-31-spx.png?w=525&#038;ssl=1\" alt=\"S&amp;P 500\" \/><\/p>\n<p>Transport bellwether Fedex retreated below long-term support at 150 on the monthly chart \u2014 on fears of a slow-down in international trade. Follow-through below 140 would strengthen the bear signal, offering a target of 100. The bear-trend warns that economic activity is contracting.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-31-fdx.png?w=525&#038;ssl=1\" alt=\"Fedex\" \/><\/p>\n<p>Brent crude dropped below $60\/barrel on fears of a global slow-down. Expect a test of primary support at 50.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-31-crude-brent.png?w=525&#038;ssl=1\" alt=\"Brent Crude\" \/><\/p>\n<p>Dow Jones &#8211; UBS Commodity Index broke primary support at 76 on the monthly chart, also anticipating a global slow-down.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-31-dubs.png?w=525&#038;ssl=1\" alt=\"DJ-UBS Commodity Index\" \/><\/p>\n<p>South Korea&#8217;s KOSPI Index is a good barometer for global trade. Expect a re-test of primary support at 250.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-31-kospi.png?w=525&#038;ssl=1\" alt=\"KOSPI\" \/><\/p>\n<p>While Dr Copper, another useful barometer, warns that the patient (the global economy) is in need of medical assistance.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2020\/2020-01-31-copper.png?w=525&#038;ssl=1\" alt=\"Copper (S1)\" \/><\/p>\n<p>The Fed can keep pumping Dollars into financial markets but at some point, the patient is going to stop responding. In which case you had better have a Plan B.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 penetrated its rising trendline, warning of a re-test of support at 3000. But selling pressure on the Trend Index appears to be secondary. Transport bellwether Fedex retreated below long-term support at 150 on the monthly chart \u2014 on fears of a slow-down in international trade. Follow-through below 140 would strengthen the bear &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The S&#038;P 500 and Plan B&#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":[31,43,44,3778,57,34],"tags":[495,815,1064,1362,2038,3010],"class_list":["post-19725","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-commodities-gold-commodities","category-crude-oil-natural-gas","category-international-trade","category-stock-markets","category-us-canada-countries-regions","tag-brent-crude","tag-copper","tag-dj-ubs-commodity-index","tag-fedex","tag-kospi","tag-sp-500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The S&amp;P 500 and Plan B - 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=\"The S&amp;P 500 and Plan B - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The S&amp;P 500 penetrated its rising trendline, warning of a re-test of support at 3000. But selling pressure on the Trend Index appears to be secondary. Transport bellwether Fedex retreated below long-term support at 150 on the monthly chart \u2014 on fears of a slow-down in international trade. Follow-through below 140 would strengthen the bear &hellip; Continue reading &quot;The S&#038;P 500 and Plan B&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/\" \/>\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=\"2020-02-01T06:07:00+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2020\/2020-01-31-spx.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\/2020\/02\/01\/the-sp-500-and-plan-b\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"The S&#038;P 500 and Plan B\",\"datePublished\":\"2020-02-01T06:07:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/\"},\"wordCount\":175,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2020\/2020-01-31-spx.png\",\"keywords\":[\"Brent crude\",\"Copper\",\"DJ-UBS Commodity Index\",\"Fedex\",\"KOSPI\",\"S&amp;P 500\"],\"articleSection\":[\"Banks &amp; Interest Rates\",\"Commodities\",\"Crude Oil &amp; Natural Gas\",\"International Trade\",\"Stock Markets\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/\",\"name\":\"The S&P 500 and Plan B - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2020\/2020-01-31-spx.png\",\"datePublished\":\"2020-02-01T06:07:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2020\/2020-01-31-spx.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2020\/2020-01-31-spx.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/the-sp-500-and-plan-b\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The S&#038;P 500 and Plan B\"}]},{\"@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":"The S&P 500 and Plan B - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"The S&P 500 and Plan B - the patient investor","og_description":"The S&amp;P 500 penetrated its rising trendline, warning of a re-test of support at 3000. But selling pressure on the Trend Index appears to be secondary. Transport bellwether Fedex retreated below long-term support at 150 on the monthly chart \u2014 on fears of a slow-down in international trade. 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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-589","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":19765,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/08\/sp-500-and-nasdaq-soar-as-commodities-plunge\/","url_meta":{"origin":19725,"position":0},"title":"S&#038;P 500 and Nasdaq soar as Commodities plunge","author":"Colin Twiggs","date":"February 8, 2020","format":false,"excerpt":"Commodities Brent crude dropped to $54\/barrel on fears that the coronavirus outbreak will slow Chinese imports. Expect a test of primary support at 50. China's largest LNG importer, state-owned CNOOC, invoked force majeure in order to get out of LNG supply contracts: Dow Jones - UBS Commodity Index broke primary\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7402,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/04\/03\/gold-tests-key-support-level\/","url_meta":{"origin":19725,"position":1},"title":"Gold tests key support level","author":"ColinTwiggs","date":"April 3, 2013","format":false,"excerpt":"Spot gold is testing primary support at $1500 to $1550. Declining 13-week Twiggs Momentum below zero warns of a primary trend reversal. Failure of support at $1500 would confirm. The daily chart shows penetration of support at $1550. Recovery above the support level would warn of a bear trap --\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19004,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/28\/fedex-breaks-support\/","url_meta":{"origin":19725,"position":2},"title":"Fedex breaks support","author":"Colin Twiggs","date":"September 28, 2019","format":false,"excerpt":"Bellwether transport stock Fedex (FDX) broke long-term support at 150, warning of a decline with a long-term target of 100. A down-trend on Fedex has bearish implications for the broader economy, signaling that activity is declining. We have been here before: November 2007 - Fedex Warns of Worse to Come.\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7901,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/06\/12\/gold-and-dollar-fall\/","url_meta":{"origin":19725,"position":3},"title":"Gold and Dollar fall","author":"ColinTwiggs","date":"June 12, 2013","format":false,"excerpt":"Gold retreated below support at $1400, indicating the end of the bear rally. Expect a test of primary support at $1320\/$1340. Yesterday's long tail is evidence of short-term buying pressure, so breach of primary support is not a certainty. Respect would suggest another test of $1400. * Target calculation: 1350\u2026","rel":"","context":"In &quot;China &amp; HK&quot;","block_context":{"text":"China &amp; HK","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/china-hk\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6097,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/08\/the-gold-euro-dollar-conundrum\/","url_meta":{"origin":19725,"position":4},"title":"The Gold-Euro-Dollar conundrum","author":"Colin Twiggs","date":"November 8, 2012","format":false,"excerpt":"The Euro broke support at $1.28 against the greenback (weekly chart). Respect of the descending trendline warns of a down-swing to test primary support at $1.20. Reversal of\u00a0 63-day Twiggs Momentum below zero would strengthen the signal. But the Dollar Index and Gold suggest the opposite. Recovery above $1.28 would\u2026","rel":"","context":"In &quot;Forex&quot;","block_context":{"text":"Forex","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6373,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/05\/weaker-commodities-threaten-down-turn\/","url_meta":{"origin":19725,"position":5},"title":"Weaker commodities threaten down-turn","author":"Colin Twiggs","date":"December 5, 2012","format":false,"excerpt":"Commodities remain weak despite the softer dollar, with the DJ-UBS Commodity Index hovering above support at 140 on the weekly chart. Breach of support would test the primary level at 125\/126, warning of a global economic down-turn. Reversal of 63-day Twiggs Momentum below zero would also suggest a down-trend. The\u2026","rel":"","context":"In &quot;Gold &amp; Commodities&quot;","block_context":{"text":"Gold &amp; Commodities","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/gold-commodities\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19725","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=19725"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19725\/revisions"}],"predecessor-version":[{"id":19726,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19725\/revisions\/19726"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}