The Type-A Bearish Divergence we’ve been discussing took on a more familiar look and feel after last nights drop in US markets. Remember the same formation has been apparent there as well. Whilst days like today are jolting, they don’t change the immediate trend and the charts are showing reasonably strong closes across the board on slightly increased volume. As I said – one day does not make a new trend. We need to be watching the 4615 level in the XAO before we start to question further upside. The downside today, apart from losing some open profits, is we get knocked out of a few short term positions. However, if the trend continues higher we will be able to initiate new trades to take their place. Expect more volatility in the coming week or so.