ASX decouples completely from US bull market

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If you want a clear signal that all is not well Downunder then the stock market is it. The ASX200 is down again today as it decouples completely from the US bull market:

Versus the US hilarity ensues:

Big Iron is down today:

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Big Gas is down today:

Too early to buy Big Gold:

Big Sleazy is getting hammered:

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Big Liar is going nowhere:

It’s a screaming indictment of local prospects.

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.