A pretty fair end to a solid week on our market today. The XJO closed up a further 43 points or 0.9% for the day. For the week, it has risen 116.2 points – a solid rebuff to the sell off. This has created what appears to be an intermediate low around the 4475-4480 mark. Although the trend is still down by our weekly and daily indicators, daily momentum has turned up. Volumes also increased today compared to the previous four sessions. The market still needs to swing a little higher before the system portfolios come back on, but headway is certainly being made. The US market was up again over night – the Dow putting on just over 84 points as the resilience that was discussed in Wednesday’s Dow Jones review continues.