The small range days and flat market continue. The XJO finished slightly down today, the first negative close in the last seven sessions. The seasonal December rally was mentioned in last night’s commentary with a snapshot of the DOW and XJO’s performance since November 30 and December 1 respectively. Some other indices we watch have performed as follows; Nasdaq up 5.56%, Russell 3000 up 5.34%, FTSE up 6.39%, Germany’s DAX up 5.02% and the Shanghai Composite up just 2.76%. The Nasdaq is clearly the front-runner of the US market and it seems no coincidence that the US Systematic trading has enjoyed a nice run of late.