Early morning losses accounted for most of the day’s decline, as the market range traded for most of the day thereafter. Closing near its lows, the XJO was down 1.2% at session’s end on very light volume, which is to be expected at this time of year. Health and Telecommunications were the only sectors to close with positive numbers, whilst Gold, Property Trusts, Materials and Metals/Mining suffered the most. The market remains range bound with the trends and momentum all having a slight downward bias during this consolidation phase. US futures are down around a quarter of one percent at the time of writing during the night session, so not much to glean from that for tonight’s trading.

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