Big Iron pushes ASX towards post-GFC high

Dalian is offering up a little more relief rally today as the Caixin PMI came in OK:

Big Iron is likewise dead cat bouncing:

I remain skeptical that iron ore has bottomed!

Pensioner Killing is Australia’s new boom business model:

Big Gold just won’t fall to offer a good re-entry:

Big Sleazy is up:

Big Dungheap too:

And the ASX200 is within a whisker of a post-GFC breakout with a bullish ascending triangle pattern

The rally even since the shocking retail report and end of rate hike speculation has been pretty high-octane. It looks poised to push higher but it had better hurry. I still material downside for mining before year end.

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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.