CBA up today, +0.17%. After opening with a big gap down, CBA...

CBA up today, +0.17%. After opening with a big gap down, CBA received plenty of intra-day buying to finish positive. (Just).

To produce a candle like today's - I believe that was institutional money giving a vote of confidence to our banking system (at least the biggest one in the system).


Above is the chart for ANZ - not positive like CBA, but a huge down-side wick on today's candle. Lots of intra-day buying.

And look at the volume for ANZ. The VSA guys will be salivating over a chart like this.

These charts suggest that the fear has gone out of the bank trade. And it has been that fear which has been dominating markets the past few days.

RB