this is exact;y how it started in 1987, Asia was weak and began falling before the west. then Australia and then New Zealand, then Europe and then the US.
just look at the chart for Hang Seng. While we scream higher it's coming down hard.
Totally, hang seng is down 3k from 24 highs and never pushed through to the highs. A lot of these new highs here made to try and drag the chinese into the debt bomb but it hasn't worked. Makes me think of the movie too big to fail on showtime where bill hurt says to the ceo's if you don't do this your kids will be speaking chinese, well they will not only be speaking it now but working for them exclusively.
Though I do not believe that the current market is replicating 1987 per se' but other.
Within the larger decades long patterns there are also smaller repeating patterns.
With that time frame being one of them.
From the 84' low to the 87' high look at how the subsequent crash dropped cleanly to the 61.8 fib.
Though that correlation isn't the basis for my thinking ,at all, it does fit.
Where I would expect the coming correction,from whatever high,to at a minimum match the same retrace.