Short Term Trading Week Starting: 3 December 2018, page-82

I think you are right on the money, as many, self included, bought banks as a dividend long term hold stock and now sitting on a large capital loss.

There will be lower prices in 2019 as a recession is starting to look very likely. The banks are contributing to it also by cutting back drastically on new loans, especially to investors. Soon investors wont be interested in buying more residential property anyway. The result will be a reduction in bank earnings. New constructions will drop, unemployment will go up, Labor will dole out almost unlimited social security, and we will have our Aussie version of the GFC. I would hold cash and wait, great opportunities will arise maybe a year from now. Otherwise forget the ASX for a couple of years and look to overseas markets instead.