A boomer of a session on European and US markets overnight which saw several major indices (including the S&P 500, DAX and CAC) post gains in excess of 4%, didn’t transpire to those levels on our market today. Still a very respectable day was had as the XJO posted an increase of 2.6%. Gains were made on the open and were held into the close after range trading all day. We’ve also witnessed an encouraging lift in volume over the last two sessions. Small caps lagged, the Small Ordinaries putting on 2.1% and the Materials and Metals/Mining sectors returned to form, posting gains of 3.9% and 4.1% respectively. Today’s price action was enough to switch the Growth Portfolio back on to accept buy signals, as did the US Systematic Portfolio with this mornings update. The ASX Systematic Portfolio just missed out on a guernsey, only three points shy.

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