| Weekly Trend: | Up | |
| Daily Trend: | Down | |
| Daily Momentum: | ___ | Down |
The daily trend turned down today and the weekly very nearly did as well. Another down day through todays lows will turn that negative as well. As a result our trailing stops will be aggressively moved higher and new signals will be halted. If the market trends lower we will stay in cash with the Systematic PowerSetups but will now start sourcing short trades for the Discretionary portfolio. The all important 4700 level was not breached, but the depth of this current decline has done enough damage to the immediate technical picture that our larger target of 5200 is now considered a secondary probability. If we are to go through the 4700 level it may be the start of a larger decline toward 4000. A full discussion on the situation can be found within the ASX Chart Research area.
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