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- nasty developments..

  1. Three of the four banks have several interesting breaks showing today.

    Firstly, the one that does not - the CBA is despeerately hanging onto a shortterm retracement at $30.30 though it has broken this on intraday. Of the four it seems to have the most resilience imo to provide a possible short term rise...

    Of the others, NAB and WBC have both broken retracement and now have the potential of long falls in front of them chartwise.

    The ANZ which has been levitating - apparently unaffected by the carnage all around - has imo given a hint that it may be commencing a run down with todays intraday low marking a - so far - short term lowere low.

    Any other opinions out there.

    Disclaimer - I hold no bank stocks at the moment.

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