The US market experienced significant falls overnight – the Dow Jones closing down 1.87% and both the S&P500 and Nasdaq losing similar ground. The futures in night trading were up about an hour ago and are now flat at time of writing. The AUD tells the same story. Our market continued to sell off, although it was a choppy trading day. The XJO lost another 1.2%, closing down 54.9 points. Today’s sell off was across the board with all sectors involved. The Growth Portfolio continues to exit weaker stocks after tightening stops as it takes defensive action. All long trades are exited in the Power Setup Portfolios. One short sell was put up on the Discretionary setups yesterday and although triggered, it was far from convincing. It seems prudent to be on the sidelines at present. We will see more setups come about by waiting for a corrective pattern up at which time we can look to initiate shorts if conditions are appropriate. Patience required here.