 Good afternoon traders. It's Patrick Monday here with the Weekly live analysis session. I just want to do a quick audio check if you can see my Screen and you should be able to see a tick mill. We want traders to succeed Slide if you can hear me, can you type a Y in the chat box? Just to let me know We're all in sync. Okay. Good stuff Okay, so before we get going, obviously, as usual, we want to quickly Pay some attention to the risk disclaimer. We'll see you'll know that Training is a risky endeavor. But as I always say, having a plan and adhering to that plan and Managing your risk Mitigates a lot of the genuine risks that is in the markets Those who don't know me. My name is Patrick Manley. I have been trading professionally for Well, professionally since 2008. I was actually in the markets from 2004 2005 I'd an ex-consulting startup had a bunch of capital and started trading myself Had some early success and then is as is often the case. I experienced Significant drawdown Losing a big chunk of cash and was at that point. I started to get serious about Trading as a business sort out a mentor worked with that mentor to to develop a trade plan I've thoroughly back tested it forward tested it and then I came to the markets again the beginning of 2008 In not dissimilar circumstances to we were we're currently experiencing now but through that period I managed to navigate those markets by adhering to my my trade plan and risk management strategy and ultimately Since 2008 on an annual basis I've been profitable and really that's where my focus is in terms of my performance I'm not interested or concerned by the outcomes of individual trades What I'm really focused on is it's not the next 10 trades, but the next hundred trades And over those hundred trades. I'm looking for my trade plan and my strategy is to deliver That their edge in the market and that's really where I put my focus from a performance perspective Since 2013 I've actually been managing external investor capital through a managed account service and again that service has been profitable on an annual basis and More recently I've obviously joined Tick Mill as their market experts in residence and Another role that I've also took on over the past 12 months is I'm actually the head of trading and trader education for an emerging online Trader education service called FXcareerswap.com whereby we work with emerging retail trading talents to not only deliver solid practical education and Strategies, but we also then move forward with those who are successful in In develop in their development to to provide a funded training accounts for graduates of that program and And then they can grow that account over time on a performance-related basis obviously So those are a bunch of the things that I'm involved in first and foremost. I'm a trader and I Basically moved to the stage now where most of my Trading in terms of execution is on an end-of-day basis So I've got a bunch of time during the day I obviously want to keep my finger on the pulse of the market in terms of managing my my exposure, etc But I I really am working in more of a mental capacity During the days and my training like I say is mainly done at the end of day So without that further ado, let's let's move into to what I want to talk about today and again, I'm going to to walk you through the the major markets that I'm I'm watching and Deconstruct and see where the where the opportunities might be emerging I'll walk you through some of the positions that I've got on at the moment that I share with the guys on the trade program program for effects career swap and then I'll Take any questions you might have or if there any markets You want me to take a look at and then I'm not going to cover in the in the presentation And I'm happy to do that. So what I want to start off with is just a game I think I shared this slide with you guys last week, but just really to update you in terms of where we're at now The this is the 20 year seasonal chart of the dollar index now Obviously the dollar is the major components in terms of foreign exchange trading And so we always want to be cognizant of where the dollar index is This is the the broader basket of the dollar versus Six other currencies But this this really is giving you a gauge of Sentiment in the market now over the past 20 years the dollar has on average Seen a peak in and around the end of March and from that peak It's traded lower pretty much into to the beginning of of May That's something that's an average over the 20 20 years now There's a whole bunch of reasons why that occurs and you can you can Google Forex seasonality and and there's an abundance of articles on the internet that will explain the rationale that seasonality is something that I want to to always be aware of not necessarily that I'm going to initiate a trade based purely on seasonality, but if one of my strategies gives me a set up where that coincides with one of these Seasonal swing points that I want to pay attention to that because that trade setup may offer me the opportunity to Increase or maximize potential return So instead of going for one and a half or two times my risk in terms of my reward for a trade Where I get a synchronicity with my one of my strategies give me a signal and this seasonality Then I might hold on to that trade or try and ride that trade for you know Maybe five seven or ten times risk reward So I want to just to just to give you a heads up that the dollar is is moving into a Period of seasonal weakness. So if your strategies are starting to flash Dollar shorting opportunities, then you should you should certainly be paying attention to those now there's one fly in the ointment and this fly in the ointment is specifically related to the Market meltdown that we've witnessed over the past Few weeks with respect to coronavirus and some and it's covered the guys that I share these these trading notes This is from the JP Morgan deeing desk in London this information isn't really available to retail traders, but we share with the guys in my team and We know that there are there are some significant issues with respect to liquidity at the moment Simply because a lot of these trading teams are dispersed and they're not trading off their trading from their desks and so we want to to be aware of the fact that because of Of the dislocation we've seen in markets. There is likely to be a Move into the dollar at the end of this month And it's more more related to this is a note here from the Goldman Sachs Floaters, this is big pension funds in the US. I basically have to rebalance and Rebalance their books and potentially buy up to two hundred and fourteen billion dollars worth of US equities Now you'll see here. This is a note from Sydney. This is their Contest that this this rebalancing is a strong signal that this that the asset Rebalancing is suggest that there is going to be a move into the dollar into month end So if you've got a dollar position on come Tuesday, certainly around the London fix, which is 4 p.m. UK time You want you can expect to see some volatility in the dollar crosses in the dollar Sorry, the dollar majors and dollar crosses So this is something again that not you know, the average retail trader isn't necessarily aware of But in terms of my mindset and how I use this information, I think to myself well I want to make sure that if I'm in a dollar trade heading into that period that that trade is risk-free and Secondly, if I do get these dollar shorting signals heading into month ends, then I'm once we get this rebalancing flow out of the way It's likely then that we will see the potential for the dollar to ease once these rebalancing flows have gone through So if I'm getting signals Monday or Tuesday What I'm likely to do is hold off on an executing those trades until we get through that that London fix on Tuesday at 4 p.m. So this is just an aspect of market dynamic that you want to be aware of because what what you don't want to do is you put a position on Monday night You know with it with a short set up for the dollar and then you find that you're in a trade that's in and around your your entry level and Because of this flow dynamic that we're likely to see on Tuesday the dollar spikes Take you out of your position and then once this flow has moved through the market has been absorbed It reverses very quickly and then goes in the favor of your trade after stopping you out. So this is just an additional Risk strategy that you want to be aware of as we head into Tuesday and Tuesday afternoon in these in these major dollar pairs So that said let's let's jump into the charts and take a look at at the dollar index What we've seen obviously is a an impulsive move to the outside We can just shy of challenging the 2017 highs in the dollar and And we've seen a pullback now this pullback at the moment has corrected qualities and we have just Completed as of this morning the equidistant swing. So If we think in terms of Elliot wave, I'll just put this in for you for those who follow along We've got an a B and a C leg quality leg Into or just ahead of these prior highs and we're seeing a bit of a bit come in here Just just in the last couple of hours in the dollar. This is a four-hour chart. So in terms of the set up at the moment If if I if as I anticipate that we're going to see this this dollar squeeze There's the potential here that we will actually make one more high here in the dollar index take out those 2017 highs and then maybe we get we get the reversal signal So this is one scenario that I'm tracking at the moment and I'm watching the price action Again at the moment, there's no confirmation But certainly we're seeing that initial reaction from the market here as we trade into to the equality leg These red lines are Fibonacci Time Time time retracements. So basically what this is telling us is that at this level here This equates to thirty eight point two percent of the time that it took For this impulse wave to occur most corrections are going to occur or complete in between the thirty eight point two percent And the sixty one point eight cent time retracement. This is something obviously recovered in the educational sessions We're just highlighting it to you now. So we've got we've got a dollar index trading in back into these the break breakout highs We've got an equality set up In terms of the correction and we're in and around the minimum Requirements from a time perspective for this correction to complete So we've got some criteria there that we want to pay attention to and certainly then we've been watching the price action for a confirmation for a potential trade on the long side to to see this dollar potentially Makes five highs here heading into Tuesday now If we take it if we if we if we're on a closing basis if we take out this level then the next area of interest is going to be Back down here towards the ninety eight ninety level and technically still at this stage because of this leg The trend is still bullish and this is you know the overlapping nature of the price action We're here. We're seeing here would suggest that this is this price action was in the moment is corrected So we could try back up into this channel high and then still see another leg lower To test this support and even at this stage from a technical perspective Char still has a it's still bullish and that could be setting up the next next leg of upside in the dollar Okay, so what would what would tell me that? This is that the correction is complete. Well, we need to take out at this stage of minimum this trend line resistance that we've got here To suggest that we've got a confirmation that there's a potential or a higher probability That the corrections complete and we're going to get the spike into into a new high here Into that month-end time frame which will coincide with the 20 year seasonality So those are some of the the levels that I'm watching in the dollar index Obviously that feeds into the euro We've got the euro just falling shy testing its equality level and again at the moment Because of the nature of this decline being impulsive What we what we have to Logically expect is that the current price action is correct now again If we think about the nature of the dynamic of the current market environment where even if you know the guys On the JP Morgan desk is saying that you know whilst they still got an iron Technicals the majority of what we're seeing at the moment is very much flow driven So we see it because the markets are less liquid than normal We're seeing these the swing generation has just been driven simply by flow So whilst we're paying attention to the technicals. We also want to be cognizant of these broader market themes We've got liquidity issues We've got a move into the dollar that may see that may be exaggerated into month-end because of the rebalancing flows So these are all dynamics you want to be aware of above and beyond the technical setups So with the euro at the moment what I've been looking for is is a test of this equality level looking at the stops above 110 If we get up there, I would suggest if we don't get a reversal signal as per the set that the strategy let me Just go on to another chart here because you can't see the Let's just go to It's the daily I'm gonna take this on to the four hour, but this will just give you a better idea in terms of signal So what we're looking for now, so we have We've got this as an ABC We're trading up into the volatility resistance bands this This is the the higher timeframe VWAP is also still bearish So if we get a reversal signal in here, then that would qualify as a short set up in in the euro Equally what we've got is Just change these We also have if we overlay this last swing into the high and bring that down here And see we get some additional confirmation in around this level, and if we bring in our fibro tracements all the game So we've got a cluster here between This 110-11060 11060 being the 50% of the tracement and if we once again bring in Time zone So you can see we're just about heading up here into that minimum time requirement Which is the 38.2% retracement of this decline. So certainly want to pay attention as we head into Eat this evening and and tomorrow to see if cities you're as trading in around this this reversal zone this one 110-11060 Would be an area certainly of interest then just above there. We've got one 1077 is the is the weekly R1 level So we want to see how we how we react in and around that area If we get a bearish reversal. So as per my did this this swing strategy What I'd be looking for or what would characterize a trigger in terms of a trading opportunity Would be as we trade into this area I've been looking for a red candle that some that is tested into this volatility resistance band Okay Now in terms of taking this trade once I get in or once I if I get a signal the first area I've been looking at to cover my wrist would be a Symmetry swing with this last corrective phase that we saw here So any pullback like so that's where I want to you know I want to be covering my risk there because the potential is that we could set up a third push higher to test this 161 extension of this of this a be like so those are the areas that I would be Paying attention to this is obviously if you're trading on the intraday charts 11060 110 to 11060 in tomorrow morning heading into the London open would be the area of interest in the euro Let's go back to these clear a chance It's just I was just showing you the other so you can see the actual signal pattern Which would be the red candle. So these candles are coloured as per the the trend This is a near-term volume weighted average price so when price is above that level regardless of whether or not to bullish a bearish candle the It will clearly will it will actually color the candle green if it's above and red if it's below and so what I'm looking for when we trade into the The potential price reversal zone is for that that signal to to initiate a trade So let's go back to that's so that's we've covered the euro Here's the symmetry swing idea that I referenced in on the other chart We're going to pull back and then there's still the potential of one more leg higher Which again would still technically Classify this as a correction as a corrected pattern because because of the overlapping nature of price action But realistically by the time we get up here It's more likely that we're going to be in a more complex pattern that they could play out as opposed to Immediately seeing a resumption of the trend to the downside So sterling similar scenario here with sterling what we're looking at is ABC Corrective pattern. We've got a target at 120 208 we've got the weekly R1 coming in there and And obviously because of the scale of the decline we saw in the euro were well below the the monthly Pivots at this stage, but certainly we've got the weekly R1 and We've got this equidistant swing objective at 120 208 So whilst we're holding above the central tendency here certainly in terms of the volatility Bands then price can obviously generate here But whilst we hold above this one 1750 then the target from now would be a move up into this 122 area and then again the market will be into a decision point And we'll see if the stellar if sellers re-emerge and we see a trend continuation pattern But certainly what we can do at these areas and again using this is the 4-hour jar we get that 4-hour signal Then you can you can actually Certainly get into a position and very quickly get it to risk great So if we're trading up into this 122 we get a reversal candle confirmation Then you know you can get from one to see back into this 120 area is prior highs And certainly will be risk free by then and then you'll see if you're if you've got it, you know trend continuation Play on the carts. So that's that's what I'm looking at in sterling Doll again is is pulling back and what I'm looking for now is for this pivot here of 109 20 to 109 level got weekly pivot the monthly pivot So if we pull back into this area and a bias step in again What I'm looking for again because we've come just shy of retesting these prior highs and There'll be undoubtedly a bunch of stops sitting just above there. So if we if this pullback Complete in and around this 109 level then I still see the potential again For for one more leg higher to take out these stops and then potentially set up a more meaningful reversal. So in terms of The pattern I've got here. It was we hold this 109 We still can see just one more high in a blowout move and again, you've got to think that would broadly coincide with the dollar index making its new high so You can see if the if this if the dollar yen and the dollar index are both going to hold here Then we certainly see the potential for that one more high before a likely fade in terms of in terms of both of those instruments Ozzie Looking for the Aussie to test now into the quality target. We've got a potential three pushes pattern here More often than not that proves corrective and terminal for a correction We've also got the retesting the monthly s2 from below and we've got the confidence here with the weekly r1 And we've got the daily r3 So if we if if today we can see a run higher over into into tomorrow, certainly in the Aussie In any reversal signals and games for our chart On for our time scale you could you could certainly look at getting into to a short position there And again symmetry swing targets initially to to get your risk off the table and then see if see if the trend is likely to persist because as we know at the moment the dominant trend has been this dollar strength But we're cognizant of the fact that after these month-end flows go through and certainly heading into next week We might see some some more sustained dollar weakness Which could like I said, you mean that we see more complex corrective patterns in some of these dollar pairs So similar story here in the loony. Let's just See where we are. So we've got our a B So the C target down here at 140 33 Again, at this stage that would this will prove a corrected pattern and suggest we have the potential to actually make new highs We'll have to see once we trade down into this area Let's also just bring in the fibro trosome and see what we've got So about the 50% just below that If we look at the this is the March so if we fit the March move you get some confidence there. So Watching 140 30 area as potential reversal zone for the Aussie Swissy is sitting right on the Trendline support at the moment But given the fact dollar index is broken the trendline support I would anticipate that the swissie is going to do the same then we've got this equality objective at 1960 30.2% frozen sitting just below so we could see a pop there from that area To basically retest this broken trendline support from below and see we've got these symmetry Swings that we can use so to get down into this area and we retest this from below We could get another sell signal there in the swissie But want to pay attention to also as we head into next week and certainly you want to pull these charts up on on Tuesday See where you're out from from a monthly candle perspective obviously we've had Pretty strong moves in most of these dollar dollar majors, but let's see where we close on the month For additional confirmations, but certainly at this stage looking for the swissie to test this 96 60 area Kiwi similar to the Aussie obviously is is looking now to test its second wrong tool so we have But the potential now for the Kiwi to actually trade up into this is prior Price spike level here at the 60 cents level. So we've got this This would be the quality swing here. Let's let's also bring in the favorite tracements So yeah, what I've been looking for here is for this Kiwi to to make a move into this area and then again It's going to be a decision point for the Kiwi What I've been looking for on any pullback at this stage will be simply to track the symmetry swing and see where that leads So again There is the potential that we could see a more complex correction playing here in terms of the Kiwi But certainly area of interest if you're looking at at short positions in this will be this 60 to 60 50 area again using that Using the the core swing strategy to to look at short opportunities S&P 500 So we've had this initial impulse move off the lows We've corrected overnight. We haven't quite tested the the 50 percent of tracement area yet certainly I've been looking for If we do get into this area for for longs I think we've got we've got our initial panic low in place now as I talked about last week And what we've been looking for is a symmetry move now I think we can get up and retest Into this resistance at the 27 50 2800 area and then again As is as is the case with with many of these markets at the moment We're going to be a pretty pivotal decision point because if the sellers step back in here then If we go to the day, I'll just pull up the daily chart here one second. I'm just going to show you So, I mean if the sellers are going to if the sellers re-emerge in about 27 50 2800 area Which we've got these prior prior loads on the way into the cycle high then the potential for these Equity markets is that we you know, we could grind meaningfully lower Let's just draw and so we do get up into this zone Let's use these prior loans here as the initial target Then then we've got targets on the downside if the sellers do emerge here to to chest as low as 1600 in what would be just a standard correction of Of the abc dvr. I'm sorry at the abc Elliott way variety now Like I said earlier about these These monthly charts you do want to pay attention to and this is one that I've been in highlighting Can we close back above the monthly 11 year bull trend Trendline Because if we do that's going to That means that technically on a closing basis the trend is still intact to the upside And that can It can certainly cause some panic for portfolio managers in terms of chasing performance if they feel There are final loads in place now What what dynamic is going to support that? Well, I guess it's fairly obvious to most of you would certainly want to see a A A vaccine or a cure for for coronavirus if we if we if that was you know, that is announced And and we can start to see a decline in terms of the cases Both in mortality and infection and you know, suddenly some of these economies are opening back up with china continues to to see a recovery then You know All bets are off to the downside and we could be this could be a runaway move To the upside but net as I say to the guys I work with, you know, that's getting ahead of ourselves. What we want to do is take it step by step Now apply the the the analytics that that we know work And start to see where where the setups are so for now Looking at looking at some support here to develop in and around this 2370 area for the next leg of this stage all it is is a correction And again these bear market rallies can be vicious, you know, you see that pretty decent wash out there and shorts now Obviously there's been some selling pressure yesterday. We've got this big stimulus bill due to pass in the u.s. Tomorrow final votes, you know that we could see a bit of a This this being a buy the room or sell the fact type scenario once it does actually pass And we see, you know, say deeper pull back, but again this juncture One would Well, one can logically conclude that this is the first leg and we should see a second leg higher Into like I say this this resistance area where again, we'll get another market decision point and we'll see You know, do do do this step back in again Okay So that's the s&p goals God looks like it's going to complete a a bullish sequence here. We should see move up into the 1650 area And And once we are there Sorry guys, I'm getting some audio feedback. If you've got a microphone if you can mute it, that would be great Okay, so gold. I'm looking for another high here. And then I think we could see a pullback To test these this prior resistance as support in the 1550 area and from there We could see, you know, another Leg higher and ultimately take out the prior price with highs So watching for a a move to The coming session into this 1650 this correction could be driven by You know that idea that we can see some some late month Dollar strengths we've got a pullback and then once we get into Wednesday And into April, you know, we could well see another meaningful leg higher in gold And certainly with all this liquidity flooding the markets from central banks a natural place for For big capital to hide out is in gold And And so we've seen the washer this is a similar pattern that we saw in 2008 2009 When they when the equity indexes started rolling over Gold also took a dive because the the dynamic in the market is that Guys who are running big profits in gold were getting margin calls on their equity portfolios And to cover those they were having to sell gold liquidate gold positions To fund the cash shortage they had in their in their equity portfolios. So This pullback if it's driven by this this dollar push into it to month end Certainly at this stage whilst we hold this 1550 we could definitely we could definitely see another leg higher here in gold Maybe certainly testing up into that that 1740 1750 area would be the next logical objective to the other side crude oil Still struggling here and Let's see we've got a gap here a big gap now These price gaps tend to occur in the most impulsive wave of the pattern So we can still logically conclude that this is that this move to down here was actually the third wave this crude oil collapse And so that would mean that whilst we hold these highs This is our our three four here. So we should still see another low in crude oil now If we you know just using The quality metric here. So if we The last leg is equal to the first leg and that would put us down in the 16 dollars area Um getting pretty close there to that 12 dollar Saudi Break even on good on crude. So I'll be watching crude I think if we can get a final flush out here and and test down towards the the $12 area where we know That Saudi is going to be under pressure. Then I think that it's from there that we can see a very meaningful bounce in crude oil So That's one to watch Finally, I've got Singapore dollar here. This is a position I've got on at the moment. I'll just walk you through that so you can get a sense of Daily So this is a position that I'm running at the moment. We uh, we had our setup with a bearish engulfing rejection candle we had sentiment divergence And we had the rsx stochastic rolling over And then we got yesterday. We got this lovely little inside candle, which um, which helps us in terms of improving our risk rewards When we're looking at when we're looking at putting on these positions because what we're able to do the um overnight is put a Cell stop in place want to take the low the low of the inside candle with a stop a few ticks above the high of it And um, and now we've got triggered into the trade this morning Singapore unfortunately have had an uptick in Cases in terms of coronavirus They've also enacted another 40 billion dollars worth Singapore dollars of stimulus the second stimulus package So, um, we're seeing some pressure in the same dollar here. What's also noteworthy in terms of in terms of this level And I've again highlighted this to the the guys in the team that if we go out to the weekly chart We can see that we're sitting here at a major potential double top And what we also notice here is that um, once again, we've got our old friend divergence at play And um, and we're seeing pretty sharp reversal here. So initially my target on this is is back down to To these prior break points here. So that would give me four times risk reward But let's see where we close on this weekly candle because um, there's the potential here that we're actually putting in A meaningful weekly reversal pattern to see where the RSI stochastic is Certainly this this sentiment rejection In terms of the divergence adds Adds credence to this this short and this is the weekly time frame We've had a good month trading this same dollar because we also got a bullish signal here and again, I shared this Um with the guys in the team took about 230 pips out of this, but um the bullish reversal into the uh, the correction zone And um, and we took off to the upside and now again, we're having another Uh, another profitable excursion in the in the Singapore dollar And again, there's those These trades are shared in in real time With the guys in the chat I do try to put them on trading view as well as as as much as possible that I've got a lot a little on the moment So I'll try and update them as as regularly as I can but again, I can say in In our trade pro. This is FX queer swap with our strategies We also have the team chat whereby that's where I share all the the information with respect to Institutional updates and trading desks updates that share charts And relevant market information to to basically Arm the guys of the team with as much information as possible To to help in their profitability Okay guys that that's pretty much where I'm up to at the moment Are there are there any questions at this stage? Does anyone have a chart? They want me to look at? That I haven't covered I'm happy to to do that a couple of minutes here. Let's see if I can pull up the Any questions guys any charts you want me to take a look at that I haven't covered You can you can type the chart name into the chat if you want to And I'll I'm happy to look through Again, if you are interested in the trade pro program you can enter your you can use this link I'll put it into the chat and You can register in your interest and one of the team will will be in touch GBP JPY So, yeah, I mean the you know, we've got a potential double bottom scenario here But the monthly VWAP is bearish So again, what I've been looking at at this stage and again this You know, if we think about the the position that I talked about the pound being in We're just shy. We haven't really Tested the 50% of the traceman of the entire decline and take it to the swing low. We've just fallen short as well If we go to the four hour chart what we want to see or take or look at is do we have an abcd? or an abc any way so let's Bring in this tool So we've got a bit of work to do there on the upside to to get the The minimum requirements in terms of the abcd Uh, we'll be looking at 135 33 See what else we've got the prior F1 there We've got the 50% of the traceman 134 30. So if if if you're looking at this on the short side And this is the the window this this price window here at 135 is where you you want to pay attention And then obviously you're looking for the for the confirmations Again, it's probably as most of you know by now. I don't trade just a vanilla level strike. I'm looking for for a price confirmation To to engage the market. So this will be my area of interest and then I've been looking for a bearish reversal pattern to um to develop but for now Again, I'm probably in line with the the the move we're seeing in the in the uh cable Uh, we can expect uh, this to to move up to test this um this resistance zone Or potential resistance. So I should say You can see we've got a bit of a channel here as well. So up into this area would would be of interest Uh, peter could you show the Dow Jones? Let's see. I don't even think I have Okay, okay So, yeah, again similar story really peter to the um, let's see if I can get a better chart for this one No, I'm still on this one. Um, so with respect to um with respect to the Dow It looks at this stage again, we've we've had those really shocking jobless claim numbers have just come out And and at this point, you know, the market is being buoyed by the the stimulus ideas so, you know, it looks at until we get A you know an a a 50% correction at a minimum here then this thing's still bullish at the moment and you know, we could um We could see this trades up here And then get our pullback like so And then um and then see The second leg of correction But I mean it at this point, you know, the move off the lows is impulsive And so what you don't want to be doing at this stage is trying to fade this move Because you know, we've just been through, uh, you know a forced liquidation events and you know going back to the Guys at Goldman, you know, we've got about 240 billion dollars worth of Of potential inflow to uh to the equity markets so whilst we're Certainly, I wouldn't be looking at this on the short side as of yet. And what I'd really be looking for is the first Corrective pullback because um, I don't know if this is pricing in real time or is at the end of day But what we could see here, Peter is this scenario So we could see a correction like so but again that correction to my mind at this stage is Is an opportunity to get back in on the long side So I mean I'm I'm certainly, you know I'm whilst I whilst taking into account the, you know, the The likely second round effects that will come From from corona vice and again, obviously the human cost is is horrific and you know, my heart goes out to anyone Who's he's been affected by this but just looking at it from from trading perspective The the potential that I see at the moment is is certainly for you know, this is this moves impulsive We should see a correction That can that will also for buying opportunity and broadly in line with the idea of Of what I see happening in the s&p. You know, I'm looking for A, you know, a high higher levels. Certainly what you know, again just bringing in the Little here So, you know the 50% is here and you know, we've got the weekly r3 What I'm always looking for in terms of these corrections is an equality move. So ab C or Or abcd, which I do want to to request that but for any pullbacks Into this area into the 50% really are are buying opportunities For for another look higher here to my mind. Anyway Does that make sense pizza? Yourself, okay. I think I think that pretty much covers everything I wanted to Discuss with you today. So Um, again, because of these rebalancing flows in terms of the market and the impact they can have in terms of volatility as we head into Tuesday but As we get through Tuesday, I'm looking For a more sustained correction in the dollar really and obviously I you know, that's that's my perspective from an analytics Point of view, but obviously I'm not I don't trade my analytics point to be I'm trading the price action So that's what I'm looking for and then I'll see If price action confirms that and if it does then and obviously I'd be initiating trades In line with that view, but you know, I don't you know, I don't like I said at the beginning here I don't trade off seasonal patterns per se I don't trade off the flow per se. I'm very much focused on the price action. I have specific technical strategies that I employ and They're the they're the ultimate arbiter of whether or not I'm going to engage the market Okay So so on that note, I'll I'll let you guys go. Thanks very much for your time and We'll reconvene same time next week. Thanks very much guys