Gold, Oil, the Australian Dollar and the US market were all down overnight which was to prove a precursor to an average day on our market today. The XJO closed down 1.8% or 84.1 points, its largest one day fall since mid-March. Today’s price action on the XJO has invalidated the A-B-C pattern we have been watching and breaks the consolidation that has occurred over the last five sessions. Whilst we were stopped out of two A-B-C trades in the Discretionary Setups (one a breakeven stop), the others held up reasonably well for the day, all things considered. The Energy, Gold, Metals/Mining and the Materials sectors were all hit hard and all closed more than 2.5% lower after related commodities were sold off overnight. At the time of writing the major Asian markets are also down more than 1%. US futures are also lower in night trading – the Dow Jones -47 points.