Shares are holding up today despite the economy clearly deteriorating. Banks are just hanging in with CBA still arrested right at the point of no return for its monster head-and-shoulders topping pattern up 0.4%. WBC is up 0.2%, NAB 0.4%, ANS 1.3%, BOQ 0.4%, SUN -0.4% and BEN is off -6.5% on no news that I can discern:
A closer look at the BEN chart shows it is shot to pieces and appears on its way to test European crisis lows:
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This does not bode well for other regionals.