The Australian dollar is down this morning and is forming a possible bearish descending triangle:
It is also encouraging to see that shorts have almost all puked, opening the path to lower prices:
Bonds are bid:
As XJO pukes lower:
Big Iron is soft:
Big Gas even more so:
Big Gold is strong:
Big Banks have a whack head and shoulders pattern that could reverse the recent rally :
Big Chunt is hopelessly deluded as usual:
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.
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.
Latest posts by David Llewellyn-Smith (see all)
- Daily iron ore price update (onward) - July 6, 2020
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Another solid session across Asian stock
ASX bubbles over
The Australian dollar is soft this
ASX back to flat now!
This is the way!
Short cut for everyone to see our close today……..
Dow was down over 200 on Friday so we will be down 40 ish.
Our market will watch dow futures today and will add or take away from that baseline. My guess is furures will unsure today so we’ll end up 30-40 down from Friday. Our market is a parasite on the Dow with next to no independant swings.
Strong comeback by the bulls