The Chinese Hang Seng is still clearly leading the ASX

Below: The HSI futures weekly chart managed to close above the critical support but still looks quite bearish in my opinion if you look at the indicators.

Below: The ASX200 futures weekly chart showing we are still clearly following the lead of China. A break below the critical support levels on the ASX and HSI would signal a very major downtrend. I am not saying it will happen, but with China clearly slowing it is going to have a major impact on the Australian economy.