Risk turns off as big iron, gas, banks sag

It’s risk off day with Aussie well below 76 cents, Brent hit and Dalian easing. BHP is down -1%, RIO -0.8% and FMG -2%:

LNG is likewise under pressure with WPL -1.4%, OSH -1.5%, ORG -3%, STO -3% and LNG flat:

Banks too are weak with CBA -1.3%, WBC -0.2%, NAB -1.3%, ANZ -0.8%, BOQ 0.4%, SUN -0.3% and BEN -1.2%:

One final chart today for Macquarie Bank which is down -2.2% on Chris Joye’s fabulous work. Here’s the monthly chart:

That is a remarkably similar chart pattern to the pre-GFC period, with a bearish double-top in place…