The ASX 300 Banks index fell sharply, testing primary support at 8100. Continuing Trend Index troughs below zero warn of long-term selling pressure. Breach of primary support would signal a decline to the 2016 low at 7200.
Miners also retreated, testing medium-term support at 3500, though primary support at 3300 is expected to hold.
The ASX 200 tested medium-term support at 5800. Bearish divergence on Twiggs Money Flow warns of long-term selling pressure. Test of primary support at 5650 is likely.