banks stocks and index...

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    Just a note from a peasant (or someone who doesn't want to be burnt by the banks fall presently).

    Will someone please have a look at the XXJ (ASX 200 Banks ex Property index) and make a comment.

    At present the index is at its recent low set last week and also near a low point set around early July. It is presently lower than this early July point. If we have a break below the 3920 level on this index, it means the Banks index will have changed from a sideways movement to a falling sector.

    Support will be around the 3800 level firstly, then 3530 level in my opinion. Beware of the bank and financial stocks in this sector.
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