ASX hangs on for grim death

Lol. It has become amusing to watch as the ASX hangs on like grim death to the bottom of its bearish descending triangle pattern:

No pattern is meaningful until it breaks but that’s pretty scary for a downside break.

Today it has been saved by UBS upgrading every miner in sight, not a great idea with China slowing:

Big Gas is still getting hosed as ORG joins STO in the dog house:

Big Gold has further to fall:

The Big Sleazy took fright at cratering retail:

And Big Liar is sagging too:

It’s a scrotum-like bourse on the verge of deflation.

Some relief will come in time from the falling AUD when it realises how stupid the notion of rate hikes is. Bonds were bid hard after retail declared recession:

Households are dying…