{"id":63923,"date":"2026-03-21T08:13:39","date_gmt":"2026-03-21T08:13:39","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=63923"},"modified":"2026-03-21T08:13:39","modified_gmt":"2026-03-21T08:13:39","slug":"asx-market-snapshot-17","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/03\/21\/asx-market-snapshot-17\/","title":{"rendered":"ASX Market Snapshot"},"content":{"rendered":"
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\"Bull-Bear<\/div>\n
\"Stock<\/div>\n<\/div>\n

The gauge on the left indicates whether the market is in a bull or bear phase, while the one on the right reflects the current valuation of the stock market. Stock market pricing indicates whether stocks are cheap or expensive in relation to earnings, but it is a poor indicator of market timing<\/strong>. We do not recommend selling stocks when market valuations are high, but we advise caution when adding new positions.<\/p>\n

Bull\/Bear Market<\/h2>\n

The ASX Bull-Bear Market indicator remains at 56%, from 66% eight weeks ago. One of four Australian indicators and one of two Chinese indicators signal risk-off. When combined with the US Bull\/Bear indicator, which has a 40% weighting, the composite indicator signals a mild bear market.<\/p>\n

\"ASX<\/p>\n

The ASX 200 Financials Index weakened to 9548.6 but continues to signal risk-on. The retracement will likely test primary support at 9000.<\/p>\n

\"ASX<\/p>\n

Stock Pricing<\/h2>\n

ASX stock pricing eased to 83.79 percent, from 85.01 percent last week, as the market retreated. The August 2025 high was 92.23 percent, with an April low of 67.85 percent.<\/p>\n

\"ASX<\/p>\n

We use z-scores to measure each indicator’s current position relative to its historical data, with results expressed in standard deviations from the mean. We then calculate an average of the five readings and convert that to a percentile. The higher stock market prices are relative to their historical mean, the greater the risk of a sharp drawdown.<\/p>\n

Conclusion<\/h2>\n

The ASX bull-bear indicator at 56% signals a mild bear market, while stock market pricing is extreme, suggesting an elevated risk of a drawdown.<\/p>\n

Acknowledgments<\/h4>\n