{"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_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 v27.4 - 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 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-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":26867,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/07\/16\/iron-ore-saves-asx-from-correction\/","url_meta":{"origin":26278,"position":3},"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":26398,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/19\/asx-advances-but-big-miners-hesitant\/","url_meta":{"origin":26278,"position":4},"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":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}]}}