Has the ASX rung the bell at the top for global markets?

David Llewellyn-Smith

Wednesday, 15 November 2017

Suddenly there appear to be false breakouts everywhere on the ASX. The bourse itself has reversed course below 6000:

This despite bonds being bid big on the wages miss:

The 2 year spread to US hit 10bps at one point! And the Aussie getting squashed:

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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.