Finspiration Australia. Chart Analysis for Australian and International Stock Markets.

 8/6/22.  XJO was up modestly today +0.36%, with intra-day selling taking off the top of a stronger start.  Banks were smashed again today.

                                                                 

           

Plenty of pluses and minuses today.  Energy did well, up +4.2%, Financials down -2.9%.

Amongst the banks, Westpac was the worst, down -6.1%.  ANZ was relative best, -2.3%.  NAB -4%.  CBA -4.4%.  In the second-tier banks, Bendigo was down more than -7% and Bank of Queensland -4.34%.

Yesterday, MVB (ETF for Banks) was down -2.29%.  Today, MVB continued on the downside -3.49%.

The interest rate rise by the Reserve Bank has changed the mood in the market.  

Despite today's rise, Advances-Declines was negative, so breadth was poor.

Stay defensive.