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Dalian is open and both iron ore and coking coal are under a little pressure. Big Iron is down harder but charts are still not alarming. BHP might have a head and shoulders top in but is still above support:

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RIO likewise:

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And FMG:

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WHC does look in trouble as its symmetrical triangle breaks down:

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Still, plenty of room for correction in all of those charts.

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Big Gas is also getting flogged on oil:

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STO seems to be beginning to price the real risk that it loses third party gas.

Big Gold is mixed. I’m still not a buyer here:

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Big Banks are powering as the local yield curve steepens. I’m definitely a seller here:

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Big Spruik is also mixed and wouldn’t buy any of them ever anyway to avoid getting diarrohea:

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But I do love to hate ’em!

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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.