{"id":56568,"date":"2010-05-05T09:58:30","date_gmt":"2010-05-04T23:58:30","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2010\/05\/05\/4500-looming-for-the-asx200\/"},"modified":"2010-05-05T09:58:30","modified_gmt":"2010-05-04T23:58:30","slug":"4500-looming-for-the-asx200","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2010\/05\/05\/4500-looming-for-the-asx200\/","title":{"rendered":"4500 Looming For The ASX200"},"content":{"rendered":"<p>\n\tBy Rudi Filapek-Vandyck<\/p>\n<p>\n\tThe TechWizard is not mincing his words this morning: expect the ASX200 back at key technical support at 4500, and let&#039;s hope it doesn&#039;t sink below it.<\/p>\n<p>\n\tThe Wizard notes his proprietary trading system has now started generating red bars which means investors should brace for more selling than what we&#039;ve experienced thus far this month. Last night&#039;s heavy falls on Wall Street are only further proof of this, he adds.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/ASX200-4500.jpg\" style=\"width: 700px;height: 455px\" \/><\/p>\n<p>\n\tIn addition, technical analysts at Barclays Capital report the S&amp;P500 index in the US has now completed a head-and-shoulders pattern on their price charts and this usually signals a reversal in trend.<\/p>\n<p>\n\tTheir message is as dire as the TechWizard&#039;s: more weakness should be in store. Note the analysts at Barclays maintain equity markets are in a long term uptrend and the weakness experienced now is nothing but a counter-trend correction, in their view.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/SP500.jpg\" style=\"width: 700px;height: 563px\" \/><\/p>\n<p>\n\tThe TechWizard is the pseudonym of Scott Morrison, whose experience in financial markets exceeds twenty years. Morrison operates his own website nowadays at www.techwizard.com.au<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The TechWizard is convinced the ASX200 will retest 4500 while the S&amp;P500 has now confirmed a head-and-shoulders formation.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[26],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56568"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56568"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56568\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}