 Good morning, ladies and gentlemen. Welcome to your daily news update from your Frankfurt office of CMC markets. Now we have a quite a rally after the Trump election, but now it will be important if the Dow Jones, which has risen to an all-time high this week, that the Dow Jones industrial average will hold those gains and close the week on new all-time highs. Because if it does not do it, it just will be a weaker signal for everyone who is doing their analysis and rethinking of entering the market on the weekend. And if they see that the Dow Jones only was at an all-time high for several hours and then fell back, which it did, then this would be a more doubtful signal that we have. If you look at the charts, which you can do right here, then you have the S&P 500 index since the year 2009. It bottomed out in the year 2009 and it actually, there was in that uptrend channel, there were several, which are just roughly sketched in there, several correction phases and every time there was a breakout out of the correction, it went up for several months and even several years between 2012 and 2015. Now, all the time between 2015 and 2000 summer of this year, there has been another correction. In August of this year, it broke out of that correction and then it had three months of small candles, two of those candles, at least or even three here, are red candles. And now there is a white candle completely going around those red candles. And that is a rising three methods, candlestick pattern, which is a continuation pattern. And so if that candle here for the month of November would be a white candle, then this whole this whole five candles here would be a completely bullish signal from candlestick perspective because you know what you have is that you have a consolidation over one and a half years in a uptrend channel. Even that test here, you see that here and here, the weeks of that candles have been far out of that trend channel, but the monthly closing was within the channel. So everything is fine. Everything is intact. The Trump shock, the first shocker on the election night was just shy of that uptrend channel, but they bought it up. And so if that candle will look like it does right now, if they will hold on to that white to hold onto the gains until the month end, this would just be bullish. And we could see some continuation to the upside. On the other hand, if they will not hold on to those gains, and if the rally would completely be faded to the downside, and if we close below the Trump lows that we have 2038 points in the S&P 500, if there would be a monthly close below that, we would also close below the uptrend. That would be a bearish signal. Then we could have a complete retracement of the uptrend that we had on the rally that we had since year 2009 until the all-time highs we made in summer of this year, which would mean that we need a Fibonacci retracement tool. And if we sketch that in, then we have correction marks. You can also see that, okay, 23.6, 38.250%. So there's quite some potential to go lower if we close below the Trump election lows, and if we also close on a monthly basis, that is, if we close below the uptrend here. So that is a really interesting situation. Normally you would say that the higher probabilities are for a continuation of the uptrend. After we broke out, everything is fine, and now the S&P 500 just needs to make new all-time highs. So that is really interesting and really important that we see that it makes new all-time highs. The Dow Jones has already made new all-time highs, and now it will be interesting and very important to see that there will be a weekly close on an all-time high in the Dow Jones, and that the S&P 500 actually follows that. If you look at the DAX, there's quite a different situation. We are still 15% below the all-time high, which we made in summer 2015. So there is quite an underperformance, and the DAX already failed again, which it did just two weeks ago, and now yesterday again, it failed to break the resistance at 10,805 points, which is quite logical in the end because you will have the Dodd-Frank Act, which is regulating banks in the United States. He wants to scrap that. He wants to just reverse that. No Dodd-Frank Act in the United States, again, which means deregulation for the banking sector. They can do proper tarry trading again, which is good for the banks. The reason why banks are outperforming on Wall Street right now. Then Trump wants to have debt-financed infrastructure investment programs, which is serving all the builders stocks in the United States that are outperforming. He wants those Fang stocks and internet companies to pay their taxes. This is the reason why the Fang stocks, the old darling of Wall Street, are underperforming. Look at Amazon, look at Facebook, look at Netflix. They are going down strongly, actually, even within this rally. And Trump wants to have a cut in corporate taxes. Those four things are all happening in the United States. America first is his cradle. Actually, yeah, that is not something that is happening in Germany. It's not something that's happening in the eurozone. The eurozone has its own problems, own regulations, and problems to find for common ground, I must say. And so, it's even a bit detrimental that Trump is now in the White House because he said that on foreign trade, he wants to renegotiate. And it's really a question if there would be common ground, which would be not, which wouldn't be so, yeah, I don't know the outcome, you know, there's uncertainty. And so, investing in the DAX right now, if you can, at the same time, invest in builder stocks, if you can invest in the United States stocks, which are at an all-time high, this is just more advantage. It's just better for the moment. But look at the technicals. Dow Jones at an all-time high. Will it close above an all-time high on a weekly closing basis? This would be a good signal in the end.