Following some steep declines on European and to a slightly lesser extent, US markets overnight, we saw the open hit hard here. Down as as much as 1.6% shortly after the open, the XJO ended the day 0.7% lower, holding up pretty well. US futures in night trading have been up around half a percent (easing to around 0.3% at the time of writing), no doubt aiding the fight back on our market which also occurred on a lift in volume. The daily trend has turned down and with that we saw several trades in the ASX Systematic Portfolio stopped out today after tightening stops following yesterday’s session. It is important you follow the system here and respect the stops without any second guessing. Allow the system to take defensive action and let it re-enter trades when conditions are appropriate.

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