 Hi, good morning and welcome to these products and focus and some of the main fundamentals that are out there today There was a big survey done by Bank of America to get a bit of flavor as to kind of kind of client sentiment out there and they do this Normally every couple of months and the last thing that it was in October But the results this month was also about where investors believed we were in the middle of the bull run in the US market and What what kind of came out was quite interesting so about 59% of the respondents said that they felt that this was at the end of the current US bill run after the end of the credit crunch in 2007 so they think we're pretty much just at the cusp and then there's a 40% of Investors who really believe that we're actually in the middle phase of that kind of bill run And then obviously just like 1% that actually believe that we're just at the very very beginning So when you consider there's such a huge amount of Waiting for people that think that you know We're at the end of the road here and the next phase is down That's kind of interesting and when we look at that 40% of people who think we're in the middle of a major bill run That is down from about 60% from October last year So that gives you a bit of a flavor the sentiment is definitely kind of turning when you look at the markets Like right now a lot of them if you look at the US market for example We work here before we've been slowly we drop down We're slowly edging up and we're kind of quite a good bit away from the top of those those highs that we made So a number of traders are thinking that we're just going to slowly go around a little bit higher and then slowly move a little bit lower, but With everything that's going on between the slowdown in China slowdown Russia trouble in the Middle East The US economy is one of the few kind of bright shining stars out there And there is concern now that that's that kind of move to the upside is almost at its end So very interesting time. So that's pretty much the current Current fundamental position. Let's go ahead and have a look at things from a technical side so as ever I like to sort off with the US 30 and We do have this really bullish candle that we had yesterday not much fall through today You could get an idea as to the previous highs that we had so 18,368 Is that longer-term potential resistance? And that was you know the the top end of what had been quite a significant move to the upside If you look if you look at the size of this trend You know all the way back from from 2009 all the way up to that recent high You know not that far away from there right now, but this does look a little bit top-heavy the question for a number of traders is But if no doubt they have on their have on their mind as you know How much higher is this going to potentially go but 18367 is that potential resistance level? We've had a fantastic runs since we had that double bottom there back in the the start of 2016 83% of CMT markets clients are currently short Look at this right now. It's not that you completely expected something. It's just going to completely fall over But the question is how much more gas is left in the tank? And you all want to look at the macroeconomic date releases the US 30 will continue to go up for as long as the data Is good as soon as the data begins to to get to get negative that adds a lot of pressure So that's something you guys at home to consider. So moving on to the UK 100 It's not if you have a look at this from a slightly longer-term perspective. It's still Got quite a long way to go. You can see this is us from 2000 It's actually 2009 the move to the upside was no for near as strong as what you had in the US market We're still quite quite far far away from the tips of these highs right here Going on to my daily candles again We're in the middle of two ranges 60 70 potential support 63 27 potential resistance for miles away from anything from there just now So 55% of CMT market clients are currently short moving on to Japan 225 neg very very volatile Horrible day yesterday for for traders. It was down one second up the next back down again Negative candle again today people are buying the Japanese yen dollar yen's has really sunk a lot lower 68% of CMT market clients currently long. We're hugging that 21 period SMA next potential support 6384 moving on to that dollar yen. We've broken lower of that triangle formation really bad bad day yesterday Office session lows close below 111 111 spot 61 Very kind of pretty volatile so far today A technicals relatively neutral crossover on the MACD next potential support 110 111 spot 61 might act as potential resistance in the short term moving on to West Texas crude has been going great guns Fantastic day yesterday fantastic day the day before that was on the back of that Saudi Arabia Russia OPEC meeting talk about a cap in production Saudi Arabians need more money now And they're not too bothered about picking a cap on Iran They're a small part of a much bigger puzzle and that's causing us to get we're pretty much at $40 right now Psychological work round number very significant Things are looking up a little bit, but we've not actually had a proper breakup through that $40 55% of CMT markets clients are currently short Moving on to gold Gold not massively capitalizing on the dovish FOMC. We had obviously a great a great move on the Wednesday Not much falls through on Thursday again These tips these candles are indicative of salient pressure. We're in about 1270 Moving on to your dollar your dollar the euro getting a decent move of again as dollar weakness rather than your strength But a decent day yesterday no fall through today failure to break through this recent high here at one spot 1381 Other technicals relatively neutral 73% of CMT markets clients are currently short if we break above this candle Then you could be looking at one spot 1483 Continue failure to break higher will add pressure and then you've got GBP USD to finish things up Sterling had a fantastic day yesterday Good day the day before interesting candle formation to have not a whole a lot of fall through so far this morning One spot 4565 could be an exponential support, but you're probably looking at the tips of these candles here Yeah, maybe maybe as she won spot 4565 if you're looking at the tips of these candles here That would probably end up missing place to go any drift lower You could be looking at one spot 43 52 as potential support with 72% of CMT markets clients currently along short, sorry Moving on to the market calendar. Not much the University of Michigan consumer sentiment That's due later nothing at the weekend existing home sales and consumer confidence on Monday and then Tuesday you've got purchasing manager managers index in Japan I feel business survey in Germany CPI in the UK and of course the ZEW business report very very useful for German traders Well guys, that's it for me very good luck with your trading and enjoy your weekend and join me again on Monday to find out What happened next? Thank you very much and goodbye