Risk and related assets are continuously bid, however this is likely to end soon.
Below is a daily chart of the Australian SPI 200 index future. The move from July lows is a clear corrective zig-zag into the current highs. Technically, this is one of the cleanest set-ups, and with Australia generally being one of the highest leverage plays on the global growth cycle (which is likely to disappoint soon), this is my biggest short.
I anticipate a move lower of about 20% in the next six weeks.
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