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Break! XJO has just seen its symmetrical triangle break down the wrong way. It’s taken out the 200DMA to boot:

This clearly opens the way for lower. Thanks DPRK!

This should still lead absolutely nowhere in terms of North Asian conflict. Japan and US have requested a UN Security Council meeting. But we’ve yet to see Donald Trump’s stupid response to the DPRK’s self-consciously crazy antics so the way to play it may be to wait for that sell-off before buying.

Dalian is stalled:

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Big Iron is down less than most:

Big Gas is hit:

Big Gold loving it. Still a sell for me up here:

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Big Bubble is looking increasingly tarnished by Sleaze Bank which has sunk to another new low:

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Big Spruik has rolled with the market:

WWIII!

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.