Early gains following a positive lead from major US indices were quickly rejected, and after a volatile morning the market tracked lower. At day’s end the XJO was 0.4% lower. Consumer Discretionary was the only sector to post a positive number, all other closed flat or lower. At the end of a short week, the XJO is down 2% and for the year a 14.5% decline. We end the year with the market momentum firmly down and systematic portfolios off. The ASX is closed Monday so enjoy your new year and may it be a prosperous year to come – updates return Tuesday.

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