1.banks have broken through massive support..they have retraced back towards strong support levels that are now resistance levels...the banking index has formed a massive broadening formation that was penetrated on the downside and again the banks have rebounded towards the lower level of past support(TEXT BOOK STUFF).
Fundamentally.. the banks earnings have peaked....huge funding costs..interest rates on the rise....defaults in the billions...and oooo one very important factor GLOBAL CREDIT CRISIS...The banks are history earnings are history...p/e's are irrelevant as earnings are overstated....but i can go on and onononononononoon....
p.s.. r u going to suspend the great martis ocker?
ASX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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