Beware The Australian Banks

[Dogmatix]

From ZH:

http://www.zerohedge.com/news/2016-09-15/beware-australian-banks
Beware The Australian Banks
...
A friend working at one of the big 4 Aussie banks sent me something which led to my pulling up the charts of the big 4. Whoah!

It blew me away because we have a collective head and shoulders top, something that should cause indigestion for any investors long the sector.

I want to bring to your attention the Commonwealth Bank (CBA) below what is sporting one of the biggest head and shoulders tops I've ever seen.

(read the rest at the link)

 

[BBQ]

to me, anyone working for or investing in the banks might as well have no head or shoulders. That includes my sister, who once worked for one.