A strong day on the ASX which saw opening gains added to throughout the day, little in the way of retracements and closing near the day’s highs. Volume, however, was light. The XJO put on 2.7% to close 113.1 points higher. The smaller caps bettered the large, the Small Ordinaries ending the session 3% higher. Gains were had across the board with not one sector posting a negative number, but the best performers were Energy, Metals/Mining and Materials – all more than 3% higher. Today’s strength sees the ASX Systematic and the Growth Portfolios back on with pending orders. Decent gains were also had for the US indices on Friday night – the Dow Jones +2.3%, S&P500 +1.9% and the Nasdaq +1.5%. It would be nice to see some traction gained from here and some close by resistance challenged and broken with another leg higher.

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