{"id":19840,"date":"2020-02-28T07:29:41","date_gmt":"2020-02-28T07:29:41","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19840"},"modified":"2020-02-29T06:52:14","modified_gmt":"2020-02-29T06:52:14","slug":"asx-catches-a-virus","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/","title":{"rendered":"ASX catches a virus"},"content":{"rendered":"

It’s not a pretty sight. The ASX 200 fell close to 10% in a single week. The severity of the fall suggests that sellers are committed and buyers are scarce. Breach of support at 6400 is highly likely and would offer a target of 5400 (a 25% draw-down).<\/p>\n

\"ASX<\/p>\n

A V-shaped recovery is unlikely.<\/p>\n

The ASX 300 Metals & Mining index broke primary support at 4100, completing a double-top reversal with a target of 3400.<\/p>\n

\"ASX<\/p>\n

The Aussie Dollar is also getting smashed, headed for a target of 64 cents after breaking support at 67.<\/p>\n

\"AUDUSD\"<\/p>\n

The ASX 300 Banks index is headed for a test of 7250\/7300. Breach is likely and would offer a test of 6750.<\/p>\n

\"ASX<\/p>\n

Our conclusion hasn’t changed from last week:<\/p>\n

Threats continue to outweigh opportunities in our view and we retain a bearish view on the global and domestic economies. Our focus remains on defensive and contra-cyclical (gold) stocks.<\/p>\n","protected":false},"excerpt":{"rendered":"

It’s not a pretty sight. The ASX 200 fell close to 10% in a single week. The severity of the fall suggests that sellers are committed and buyers are scarce. Breach of support at 6400 is highly likely and would offer a target of 5400 (a 25% draw-down). A V-shaped recovery is unlikely. The ASX … <\/p>\n

Continue reading “ASX catches a virus”<\/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":[251,260,262,292],"class_list":["post-19840","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-australian-dollar"],"yoast_head":"\nASX catches a virus - 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 catches a virus - the patient investor\" \/>\n<meta property=\"og:description\" content=\"It’s not a pretty sight. The ASX 200 fell close to 10% in a single week. The severity of the fall suggests that sellers are committed and buyers are scarce. Breach of support at 6400 is highly likely and would offer a target of 5400 (a 25% draw-down). A V-shaped recovery is unlikely. The ASX … Continue reading "ASX catches a virus"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/\" \/>\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=\"2020-02-28T07:29:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-29T06:52:14+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2020\/2020-02-28-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\/2020\/02\/28\/asx-catches-a-virus\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX catches a virus\",\"datePublished\":\"2020-02-28T07:29:41+00:00\",\"dateModified\":\"2020-02-29T06:52:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/\"},\"wordCount\":142,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2020\/2020-02-28-xjo.png\",\"keywords\":[\"ASX 200\",\"ASX 300 Banks\",\"ASX 300 Metals & Mining\",\"Australian Dollar\"],\"articleSection\":[\"Australia & NZ\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/\",\"name\":\"ASX catches a virus - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2020\/2020-02-28-xjo.png\",\"datePublished\":\"2020-02-28T07:29:41+00:00\",\"dateModified\":\"2020-02-29T06:52:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2020\/2020-02-28-xjo.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2020\/2020-02-28-xjo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/28\/asx-catches-a-virus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX catches a virus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Breach would offer a target of $130\/metric ton. The ASX 300 Metals & Mining index shows a similar pattern, likely\u2026","rel":"","context":"In "Aussie dollar"","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":15263,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/12\/asx-200-bearish-consolidation\/","url_meta":{"origin":19840,"position":1},"title":"ASX 200 bearish consolidation","author":"ColinTwiggs","date":"May 12, 2017","format":false,"excerpt":"The big banks fell sharply on news of a new levy on bank liabilities in the latest budget. At this stage the ASX 300 Banks Index merely shows a secondary reaction. Breach of 8500, however, would signal a primary trend reversal, offering a medium-term target of 8000*. * Target: 8500\u2026","rel":"","context":"In "Aussie dollar"","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":15452,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/16\/strange-week-on-the-asx\/","url_meta":{"origin":19840,"position":2},"title":"Strange week on the ASX","author":"ColinTwiggs","date":"June 16, 2017","format":false,"excerpt":"Strange week on the ASX, with strong jobs numbers from the ABS causing a surge in the Aussie Dollar and a more optimistic outlook on the ASX. But Iron ore continues to fall, headed for a test of 50. The ASX 300 Metals & Mining index respected resistance at 3000\u2026","rel":"","context":"In "Aussie dollar"","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":24185,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/02\/20\/asx-3\/","url_meta":{"origin":19840,"position":3},"title":"ASX hesitant","author":"Colin Twiggs","date":"February 20, 2021","format":false,"excerpt":"Iron ore rallied off short-term support at $150\/metric ton and is likely to encounter resistance at $170. A declining Trend Index flags secondary selling pressure and another test of $150 is likely. Tall shadows on the ASX 300 Metals & Mining index similarly indicate short-term selling pressure and another test\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":19713,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/asx-resources-and-aussie-dollar-take-a-beating\/","url_meta":{"origin":19840,"position":4},"title":"ASX Resources and Aussie Dollar take a beating","author":"Colin Twiggs","date":"February 1, 2020","format":false,"excerpt":"The ASX 300 Metals & Mining index took a beating as concerns about coronavirus impact on Chinese imports soared. Breach of support at 4450 is likely and would warn of a test of primary support at 4100. Iron ore reaction is more muted but bulk commodities, especially iron ore and\u2026","rel":"","context":"In "Aussie dollar"","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":16330,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/02\/bi-polar-asx-continues\/","url_meta":{"origin":19840,"position":5},"title":"Bi-polar ASX continues","author":"Colin Twiggs","date":"June 2, 2018","format":false,"excerpt":"Banks continue to threaten mayhem, with the ASX 300 Banks Index headed for a target of its 2016 low at 7200. The second biggest industry group, Metals & Mining Index, however, remains in a primary up-trend. A long tail on the ASX 300 Metals & Mining weekly chart reflects support\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & 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\/19840","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=19840"}],"version-history":[{"count":3,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19840\/revisions"}],"predecessor-version":[{"id":19843,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19840\/revisions\/19843"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}