Another soft day on the Australian market on declining volume. Choppy trading and a tight trading range prevailed throughout the day. The XJO managed to edge higher, closing up just 9 points. It was a similar story to the US overnight where the Dow Jones traded in a very tight range, closing down 17.9 points in a very lacklustre session. Individual sectors on our market were a mixed bag. The Energy sector was once again strong, closing up 0.9%, whilst the Health sector was the star for the day – up 1.1%. The Utilities sector fared worst, down 0.7%. The remainder of our pending shorts in the Discretionary setups were triggered today but it would seem they will need the broader market to exhibit more decisive weakness for them to get going. A drifting market probably won’t be much use.