{"id":26278,"date":"2021-06-12T05:16:15","date_gmt":"2021-06-12T05:16:15","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=26278"},"modified":"2021-06-12T05:16:15","modified_gmt":"2021-06-12T05:16:15","slug":"asx-financials-suffer-a-reits-advance-on-lower-rates","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/12\/asx-financials-suffer-a-reits-advance-on-lower-rates\/","title":{"rendered":"ASX: Financials suffer, A-REITs advance on lower rates"},"content":{"rendered":"<p>The ASX 200 advance is tentative, with a short doji candle signaling hesitancy, and we expect retracement to test support at 7000.\u00a0 The Trend Index trough above zero indicates longer-term buying pressure. Respect of support is likely and would signal a fresh advance.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<h3>Financial Markets<\/h3>\n<p>Bond ETFs broke through resistance, signaling falling long-term interest rates.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-aus-bondetfs.png?w=525&#038;ssl=1\" alt=\"Australian Bond ETFs\" \/><\/p>\n<p>A-REITs advanced on the prospect of lower long-term interest rates.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-xpj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Property\" \/><\/p>\n<p>Bank net interest margins, however, are squeezed when interest rates fall.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-aus-nim.png?resize=355%2C349&#038;ssl=1\" alt=\"Bank Net Interest Margins\" width=\"355\" height=\"349\" \/><\/p>\n<p>ASX 200 Financials retreated to test support at 6500. The trend is unaffected and Trend Index troughs above zero indicate long-term buying pressure.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-xfj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Financials\" \/><\/p>\n<h3>Mining<\/h3>\n<p>Mining continues to benefit from the infrastructure boom, with iron ore respecting support at $200\/ton<sup>1<\/sup>. Troughs above zero, flag buying pressure, and respect of support both signal another advance.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-tr2.png?w=525&#038;ssl=1\" alt=\"Iron Ore\" \/><\/p>\n<p>The ASX 300 Metals &amp; Mining index is again testing resistance at 6000. Breakout would signal another advance, with a target of 6500<sup>2<\/sup>.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-xmm.png?w=525&#038;ssl=1\" alt=\"ASX 300 Metals &amp; Mining\" \/><\/p>\n<h3>Health Care &amp; Technology<\/h3>\n<p>Health Care respected its new support level and is advancing strongly. Expect resistance between 45000 and 46000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-xhj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Health Care\" \/><\/p>\n<p>Information Technology recovered above former resistance at 2000, warning of a bear trap. Expect resistance at 2250; breakout would signal a new advance.<\/p>\n<h3><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-xij.png?w=525&#038;ssl=1\" alt=\"ASX 200 Information Technology\" \/><br \/>\nGold<\/h3>\n<p>The All Ordinaries Gold Index (XGD) is testing resistance at 7500. Breakout would signal a fresh advance, with a target of 9000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-xgd.png?w=525&#038;ssl=1\" alt=\"All Ordinaries Gold Index\" \/><\/p>\n<p>The Gold price is retracing to test the new support level at A$2400 per ounce. Respect of support is likely and breakout above A$2500 would be a strong bull signal for Aussie gold miners.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-06-11-gold-aud.png?w=525&#038;ssl=1\" alt=\"Gold in AUD\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>We expect A-REITs and Bond ETFs to advance on the back of lower long-term interest rates.<\/p>\n<p>Financials are expected to undergo a correction as interest margins are squeezed.<\/p>\n<p>Metals &amp; Mining are in a strong up-trend because of record iron ore prices.<\/p>\n<p>Health Care is recovering well and expected to test resistance.<\/p>\n<p>Technology had a strong week but the outlook is still uncertain.<\/p>\n<p>We expect the ASX 200 to retrace to test support at 7000 as its largest sector (Financials) undergoes a correction.<\/p>\n<h4>Notes<\/h4>\n<ol>\n<li>Tons are metric tons unless otherwise stated.<\/li>\n<li>Target for Metals &amp; Mining is calculated as support at 5000 extended above resistance at 5750.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>The ASX 200 advance is tentative, with a short doji candle signaling hesitancy, and we expect retracement to test support at 7000.\u00a0 The Trend Index trough above zero indicates longer-term buying pressure. Respect of support is likely and would signal a fresh advance. Financial Markets Bond ETFs broke through resistance, signaling falling long-term interest rates. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/12\/asx-financials-suffer-a-reits-advance-on-lower-rates\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX: Financials suffer, A-REITs advance on lower rates&#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":[40,4813,57],"tags":[4580,166,251,4938,467,1397,4924,1661,1902,4136,3359],"class_list":["post-26278","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-iron-ore","category-stock-markets","tag-a-reits","tag-all-ordinaries-gold-index","tag-asx-200","tag-bank-net-interest-margins","tag-bond-etfs","tag-financials","tag-gold-in-australian-dollars","tag-health-care","tag-iron-ore","tag-metals-mining","tag-technology"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX: Financials suffer, A-REITs advance on lower rates - 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: Financials suffer, A-REITs advance on lower rates - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 200 advance is tentative, with a short doji candle signaling hesitancy, and we expect retracement to test support at 7000.\u00a0 The Trend Index trough above zero indicates longer-term buying pressure. Respect of support is likely and would signal a fresh advance. 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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-6PQ","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":31561,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/03\/18\/asx-recovery\/","url_meta":{"origin":26278,"position":0},"title":"ASX recovery","author":"Colin Twiggs","date":"March 18, 2022","format":false,"excerpt":"The ASX 200 respected support at 7000, breaking through resistance at the former primary support level of 7200. Trend Index recovery above zero suggest that selling pressure has eased. A rally to 7500 is now likely but should be followed by a test of the new primary support level at\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\/2022-03-18-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-18-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-18-xjo.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-18-xjo.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":26528,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/26\/asx-short-term-bearish-long-term-bullish\/","url_meta":{"origin":26278,"position":1},"title":"ASX short-term bearish, long-term bullish","author":"Colin Twiggs","date":"June 26, 2021","format":false,"excerpt":"The ASX 200 is retracing to test support at 7000 but Trend Index troughs above zero indicate longer-term buying pressure. Respect of support is likely and would confirm a fresh advance. Financial Markets Rising bond ETFs (BOND, IAF & VAF) signal weakening long-term interest rates. Low rates buoyed A-REITs and\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":25560,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/05\/01\/asx-iron-ore-still-shooting-out-the-lights\/","url_meta":{"origin":26278,"position":2},"title":"ASX: Iron ore still shooting out the lights","author":"Colin Twiggs","date":"May 1, 2021","format":false,"excerpt":"Iron ore is still shooting out the lights, flirting with $180\/metric ton. Compare that to last year's federal budget, based on $55\/ton. Interest rates remain low, with our three bond ETFs going sideways, signaling that long-term rates have stabilized. Financials (XFJ) are enjoying a purple patch as house prices soar,\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":26398,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/19\/asx-advances-but-big-miners-hesitant\/","url_meta":{"origin":26278,"position":3},"title":"ASX advances but big miners hesitant","author":"Colin Twiggs","date":"June 19, 2021","format":false,"excerpt":"The ASX 200 continues its tentative advance, with short candles signaling caution. We expect retracement to test support at 7000. The Trend Index trough above zero indicates longer-term buying pressure. Respect of support would be likely and would confirm a fresh advance. Financial Markets Rising bond ETFs signal falling long-term\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":26867,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/07\/16\/iron-ore-saves-asx-from-correction\/","url_meta":{"origin":26278,"position":4},"title":"Iron ore saves ASX from correction","author":"Colin Twiggs","date":"July 16, 2021","format":false,"excerpt":"Iron ore rallied to test resistance at $220\/ton1. Breakout would signal another advance, with a target of $2602. ASX 300 Metals & Mining broke through resistance at 6000, signaling a fresh advance with a long-term target of 70003. Rising Trend Index troughs confirm buying pressure. ASX 200 The ASX 200\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":24305,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/02\/27\/rising-interest-rates-spook-the-asx\/","url_meta":{"origin":26278,"position":5},"title":"Rising interest rates spook the ASX","author":"Colin Twiggs","date":"February 27, 2021","format":false,"excerpt":"Bond ETFs are getting hammered by rising long-term interest rates. Rising LT rates are also affecting A-REITs which offer stable income streams. Breach of support at 1400 offers a target of 1200. A steepening yield curve, however, with the RBA pegging 3-year yields at 0.10%, is likely to boost net\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\/26278","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=26278"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/26278\/revisions"}],"predecessor-version":[{"id":26282,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/26278\/revisions\/26282"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=26278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=26278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=26278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}