"While we spend a good deal of time looking at developments in US markets, it is becoming clear that movements in the US are losing their influence as the primary driver of price moves domestically. Overlaying the ASX 200 with the Shanghai A index (SHGA) the correlation is very strong. Further good news out of the dragon economy may be the much needed catalyst that finally breaks Aussie equity markets free from their chains."
And if you do overlay charts you see this is correct.
