this is what I posted on the Beta site a while back. I know many...

this is what I posted on the Beta site a while back. I know many of you don't have access so I'll paste it here (albeit a bit late)

3/5/2012

I think JBH is sustainable, at least for the next few years. I'm also generally still bullish retail. Range on that long term chart suggests 2500 target area is realistic.

The banks I think are reaching the point where they are too high however all still have short to medium term targets suggesting there is still room to move.

I have a fib cycle completing on the 8th May. Where XJO is in relation to then in particular whether we're above 5198 or below 5198 will give me a lot of info on whether we could be in for a reasonable pullback or not.

ww1


3/5/2012
You're not far from me, I'm expecting pressure below 1740.



Today
I think JBH will continue to see short term pressure, technically it's structure target has completed and the trend should now be over. I would expect support to come through above the high 1400s however whether any bounce from there will carry is a bit doubtful. A period of medium term consolidation with a range between previous highs and 1470ish would be the best scenario for JBH atm which would allow it to build for another run down the track.

ww1