Australia Equities Index Back to 2007 Highs

Australia's primary equity index (ASX) is seen here through the S&P/ASX index (XJO). Here we can see that ASX is retesting its prior highs from 2007 before the great recession hit. Will be watching for a good-sized pullback soon given the vertical run that the ASX has been on this year. Will that have any impact on the U.S. or other major stock markets? Not sure, but I don't think that would be out of the cards either.