Our market travelled south virtually from the open to the close today as the XJO gathered downside momentum. It closed down 68.1 points or 1.4% to end an ordinary session. It is already at the support zone discussed in last Friday’s XJO review. As you would expect, the sectors were mostly in the red, except for the Health sector which finished square. The Metals/Mining and Materials sectors were the hardest hit, down 3 and 2.8% respectively. BHP closed down 3% and FMG down 5.5% are just two individual stock examples that were sold off heavily. On a positive defensive note – the ASX Systematic Portfolio is already in cash and will remain so until the daily trend returns to ‘Up’. The strength of a system is not just in the gains. At time of writing the AUD is under pressure – just holding parity at 1.0050 against the Greenback. US futures are also down in night trading – the Dow Jones futures -56 points.