After a very choppy session, the US indices managed to close with some decent gains overnight, the S&P 500 up 1.9%. Our market followed suit and was up strongly on the open. Most of the day’s gains were had here as the market range traded for the rest of the session, but the gains were held and the close was as good as at the highs. The XJO rose 2.6%, up 109.3 points for a solid effort, albeit on light volume. Despite the positive finish to the week, it still ended the week 1.66% lower. Sectors today all ended in the black, Gold, Materials and Metals/Mining the strongest – up 3.3, 4.0 and 4.2% respectively. The ASX Systematic and Growth Portfolios are slowly but surely adding open positions but require some upside traction from the market to really click into gear. US monthly employment data is released an hour before tonight’s session, it can often be a market mover – the futures are currently flat during the night session so no hint there yet.

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