Red Sea parts, blind see, paralysed walk, ASX rallies!

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The Aussie dollar is still poised at breakout within a bullish ascending triangle:

XJO has the same pattern. It’s just that it is being humiliated by the S&P500:

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Aussie yields are also still poised at breakout:

But Dalian is going the other way today as China’s inventory Everest weighs:

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Big Iron is fading:

Big Gas is done with selling:

Big Gold is not sure:

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Banks are surging back just because:

So is Big Puswad as DHG catches a bid post Fat Cat on a UBS upgrade:

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I wouldn’t buy it with my worst enemy’s money. Actually, scratch that, I would!

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.