The decline in US markets overnight has triggered selling across Asia today, with the local market currently down about a third of a per cent. Given the extent of Christmas rally, the general consensus is that we’re seeing some profit taking rather than anything more sinister. And it seems our clients agree. Our Client Sentiment Indicator is currently showing that 76% of top clients with a position in the Australia 200 Index are long, and the combined value of their trades equates to 68% of the total open positions within this instrument. (The Client Sentiment Indicator may be accessed by clicking on the arrow next to the instrument below and selecting from the drop down menu).