Our market meandered in early trade and found some strength in the early afternoon to rally nicely. Late afternoon trade was choppy into the close which saw the XJO finish up 33.9 points or 0.7% on lighter volume. All sectors except Information Technology, which lost 0.6%, closed in positive territory. Some of the more volatile sectors, Materials and Metals/Mining were the strongest, up 1.3 and 1.2% respectively. Media have our market now oversold with some brokers expecting a solid bounce lead by mining stocks. The market certainly reacted strongly to the sell off in March so only time will tell if that recent history can be repeated in the next few weeks. Short setups are certainly few and far between which may be telling us something. A market for cautious trading.