The bounce continues as the Australian market showed more strength today. The XJO has continued the upside bias of late, closing 47.2 points or 1% higher. Gains were made early and held onto throughout the rest of the day. The percentage gains eclipsed those in the US overnight where the major indices put on around 0.5%. Good gains were present across most sectors, the exception being Telecommunications. It closed down 0.3%, while the standouts included the Gold, Materials and the Metals/Mining sectors. Today’s price action was enough to stop out one short trade in the Discretionary Setups at almost breakeven and put all other stops at risk. There is a distinct lack of setups presenting themselves, both long and short, so its probably a good idea to be listening to the market at present and not attempt to force trades.