XJO - Bear Posts only (Factors which might cause the markets to fall), page-14529

You're entitled to your opinion mate.

My position is on and atm nothing is telling me to cut it.

"Bottoms are an event and tops are a process"

Banking sector and CBA look like that process is in play.

CBA has a few volume voids up here, so the region between $113.60 to $115.50 looks to be just churn to burn premiums.

As I mentioned on main XJO thread a gap up on SPX looks likely but what comes after is more important.
However, in saying that SPX respected resistance overnight so thats the first obstacle

There's been negative divergence on momentum indicators for CBA since end of last year which says to me this run is on little more than fumes, so if it does pop further it's highly likely that pop is unsustainable.

By this time next week should have a much clearer picture.

Until then you're welcome to load up on calls but my money is already where my mouth is so I'll be ready for whatever consequences come from that...
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