Overnight, the US indices had some good follow through from the previous session, the Nasdaq in particular was strong, closing up 2.3%, the S&P 500 up 1.3% and the Dow Jones up 0.9%. Despite this lead, the ASX failed to gain impetus from yesterday’s solid effort, having a pretty lacklustre, choppy trading session. The XJO closed 27.1 points lower, a decline of 0.6%. It could have been lower without the efforts of the Materials and Metals/Mining sectors which had gains of 0.3 and 0.4% respectively to be, along with Gold, the only sectors to end the day on a positive note. Health was the biggest drag on the market, down 3.2% after RMD, with a sector weighting of more than 12%, disappointed the market with financial results and was sold off to close 13% lower. The Systematic Portfolios remain on but are pretty quiet at present, really needing the market to have another upside crack to generate some buy signals.

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