 Hello Traders at CMC Markets. This is Trevor Neal, Analyst at RRG Research. Good morning to you. I'm recording this in London on the 19th of December, Tuesday and I will go through today the Nasdaq, the Dow Jones Industrial Average, the FTSE and the S&P from short-term perspective and I'm going to start from the weakest on the RRG chart, the furthest left on a relative basis versus MSEI world and the order of things are the FTSE, perennial sort of lag, although it's a bull market, just slower than everything else, then unfamiliar then Nasdaq, the weakest of the US indices, then the S&P and then the strongest and best and new highs, the Dow Jones Industrial Average. So let's get started with the FTSE. FTSE is in a nice uptrend aligned, a series of higher lows in here, we've had a pullback and then we've started to steady up and this from a trading perspective in a bull market, although it's the weakest of the group, is quite a good setup. You've got an obvious protection point which is this low here and the trend line itself, so the trend line itself is at 75, 7585 and then the low here 7560, if those were to give way then we're on our way down, but if we break the high here 7,630, we can extend and swing to above this recent high and continue with another higher high pattern at 7,726. Now I'm pretty worried about the Nasdaq because we've got a bearish wedge in place here as I speak, it's a narrow wedge with near the apex of the wedge and it is literally testing the breakdown point as I speak, 16,720 is the breakdown point. If we were to break up through the top of the wedge then this would all be negated, 16,700, but at the moment we've got a strong warning in this bull market with lower highs in the MACD, it's quite a rare thing to see this type of divergence and it's often very you have to take notice of it, we see it also in the RSI as well, look at that there, so we have been warned of that, but if we break up through the 79%, 80% level in the RSI then it was just a slowing up, not a top and just a short term loss of momentum and we're on our way up again, but while it's below that line there is the danger that we've got an intermediate top just coming up. We've got the same warning appearing in the S&P as well, so here we have this narrowing pattern, it's not parallel it is narrowing pattern, potential bearish wedge, here we're not at the bottom of it but we're at the top of it, so the breakdown point is at 4717 at the moment, of course it's rising, it will be negated if we push up through 4750 which is close, so it could be negated very close, but what we have got is a strong message from the MACD again of loss of momentum here, lower highs in place and this could fall away, particularly if it took out the 4695 level right back to the consolidation area, 4600 right down here, so there's a big danger here and all this is negated if the RSI comes up through 77%. And our favourite, the Dow Jones Industrial Average, it's the old-fashioned stocks, the industrial stocks have been the leading, we've liked them the most and we haven't liked the NASDAQ because it's deteriorated so much, this red line here was the all-time high made in 2020, we've just broken it, we've got a beautiful uptrend line here in place still intact, we drew some time ago, we've broken to a new high and it has followed through so far but there are signs that it's weakening already, here the MACD yes is bullish but the gap is narrowing on it but we see it in the more sensitive RSI that we've got a short-term bearish divergence in place here, indicating we've got the possibility of a short-term pullback, the pullback would probably be to the previous all-time high, the 3700 level and we've got the support of the uptrend line, so I think we're close to having a set up here in the Dow which looks like it's got much further to go on a relative basis. Thank you very much indeed everybody, I hope you find this useful today and helpful, I hope you have a great session, this is Trevor Neal signing off from RRG Research, may the trend be with you, bye bye