ASX bath of blood spills over in retest of 2020 lows

Tuesday, 22 September 2020

The Australian dollar is down a little after the Loon spake:

Stupidly, the Aussie curve is still steepening:

XJO is rolling into a swan dive. A retest of 2020 lows at the headline level is big call from here but support in the low-5000s looks attractive:

Big Iron is off to the woodshed:

Big Gas does look like it might retest 2020 lows:

The Big Gold correction is not over:

And Big Banks appear destined to retest 2020 lows:

Quite rightly as withdrawn support eviscerates Fakeflation and unleashes bad debts.

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.