A confirmed close below 9400 points, could see the banking index on the JSE move down to 8900 (+- 6.3% move from current levels). We are witnessing the formation of a head & shoulders top which could trigger further downside in our banking stocks.
@RobbyP is shorting the STXFIN.
I thought I would have a look .... pity we cant trade the Banks Index directly.
So you either short the bank basket (I have included the relative performance) or you short the broad financial basket STXFIN.
Trade looks OK to me