ASX falls as bonds roar on Bloxobuster trade

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It’s the little bourse that thought it could but can’t, still struggling to break out of its bullish ascending triangle pattern:

Bonds are roaring on the Bloxobuster trade:

Dalian’s dead cat is losing height already:

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But Big Iron is rampaging anyway. RIO and BHP both have bullish ascending triangle patterns. The former has blasted through resistance at $70. FMG has the opposite!

I’m going into the Pensioner Killing business:

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Big Gold thinks it can and can:

NAB has crunched the Big Sleazy:

And Big Douchebag is mostly down:

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The Aussie dollar is back above 77 cents so that isn’t helping the bid either.

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.