Big Debt mega-bear chart returns

Big Iron is running again today as Dalian opens up a little with BHP -1%, RIO flat, FMG 2.3%. I’ve added WHC in anticipation of future fireworks. It’s up 2%:

Big Gas is firm with WPL 0.5%, OSH 0.9%, ORG -1% and STO 0.3%:

Big Gold is up firmly with NCM flat, RRL 3%, SBM 1.5%, IGO 2% and EVN 0.5%:

Big Debt is getting a little pounding with CBA -1%, NAB 0.5%, ANZ -1.8% and WBC -1.2%:

CBA’s mega-bear chart is back in focus. I’m not sure we can call it a head and shoulders top any more but it is mostly certainly a very large and bearish descending triangle:

Finally, the Big Spruik is still yelling into the void with the appalling FXJ -1.2%, MEA -0.3%, MIR -1.5% and REA flat:

Sink you bastards!

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.