Our market mirrored the US market’s overnight session today. Both blasted out of the blocks and range traded for the rest of the day, the US indices with a little more upward bias, closing near the highs to post a strong day. The XJO added 2.1%, and the sector board was all green with the resource sectors posting good gains after some recent softness. Having looked at quite a few charts this afternoon, long setups are conspicuous by their absence so I’m not overly convinced this move is the start of anything significant yet. More than happy to be proved wrong, however, and see the market gain some upward traction that we have been waiting for. For now, the daily trend remains down.

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