The local market found some strength today mainly from night trading in the US which points to a 0.6% rise in the Dow Jones, but also from some month end book keeping. Today was the last session for May trading with the market losing -2.3% for the month and positing its worst decline for some 12-months. Materials and Banks led prices higher. Some stocks, such as LNC and LYC are breaking through some good lines of major resistance and could be leaders in a renewed trend higher. That said we still need to see that significant line of resistance circa 5100 penetrated before we can be certain a decent rise is ahead. Larger technicals are starting to look a lot more symmetrical from an Elliott Wave standpoint and there is scope that the larger corrective phase seen over the last 400-odd days is coming to an end. We can only hope.