Had a look at a bunch of aus stocks last night... They all looked very different to the index but the combination seemed very bearish.
Banks obviously are in a severe downtrend. Rising interest rates have a compounding affect on the speculative aspect of their share price and this is now being confirmed in fundamentals. A few months ago ANZ surprised many when their earnings growth dropped from their usual/expected 10-12% down to about 8% from memory and now CBA has printed 2%!!
Quite a few other quality big caps have rallied since the 22nd of Jan but are now running close to the top bollinger on a daily and are showing major downtrends on a weekly.
On top of that the AUD is rallying so most things point down to me. The only worry is that Copper is trending hard on a long term trend line/rising wedge and may rally harder, but I don't think that'll happen and is based on USD in any case.
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