All index's actually mirror each other to a high degree. The Global equitie markets are 1 market to the big end in town, so they will on balance mirror eachother. And with the US equities being the largest contributor, and also the home of the US Fed (which controls liquidity flow, on balance, internationally). These markets control the game.
Also note, the ASX is just an index of Financials, Energy and Materials. So those sector movements in the US, will dictate our direction on the XAO etc.
And then everything really follows the inverse of the USDX (king dollar). Obvs, a little more complex than the above
May Chart, page-2108
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