 Hi, good morning and welcome to today's products and focus and pretty much what all traders are going to be looking at now for this week is the start of US earnings season which kicks off today with Alcoa that comes at the end of the session in the US and I think there is an expectation that the results of many US firms are not going to be as strong as previous years where they've beaten expectations by a decent amount. Still the markets may end up surprising but Alcoa is certainly the one to start with later on today. Most of the rest of the week and for the next couple of weeks you're going to be getting a lot of the biggest US companies coming out with their earnings, a lot of some of which come at the start, some of which come after the bell when the markets are already closed so you're going to keep an eye on your positions overnight and if you're trading any indices that are closed over the night time, for example the Germany 30 is always quite popular, the one thing about potential gap risk, if a couple of big Dow products end up missing expectations by a significant margin and the markets tank or on the opposite side if they come out much better than expected considering the markets expect them to be a little bit weaker than usual that can have quite a big knock on the facts on something like the Germany 30 which can be quite temperamental with some of that gap risk as well. You're trading the UK 100 or the US 30 which trades 24 hours is not so bad but just be careful for some of those European indices that do have a closed time as well. But that's pretty much what's going to be dominating the news items for certainly for this week anyway let's go straight on to the technicals and look where we are. I'm starting off with the US 30 as ever, okay so pushing on here you'll be able to see that the US 30 has kind of retreated a little bit very volatile session there on Friday it was much higher than getting pushed back down towards the end and then we are hugging that 21 period SMA 66% of CMT market clients are currently short we do have a sales signal on the slow stochastic finally and the MACD histogram is obviously turned negative and now we're going to see it's a little bit of a grind lower. Certainly the tips of these candles are indicative that there is selling pressure and Friday's candle is quite negative from a technical analysis perspective. Moving on to the UK 100 we're still trading within this range very interestingly a very different formation to what the US 30 had so we had a very positive day there on Friday we've had a little bit of a sell-off this morning just tiny tiny little bit 63% of CMT market clients are currently short but look this potential resistance level is significant at 62.20 so do keep that in mind the other technicals are relatively neutral if I'm honest. Moving on to Japan 225 and it's really struggled in the back of that resurgence in the Japanese yen we'll have to be looking at your dollar in a second we've almost got a bearish death cross and the moving averages 86% of CMT market clients are currently long. Decent Friday off from the lows we actually sold off a little bit further again today but it's pushed back up higher we're way way off that 16384 potential resistance we're not quite in the middle but we're not that far off other technicals are relatively neutral the MACD histogram is slowing which might be showing a little bit of slowdown of the momentum of the move down which is not that surprising when you've got that big green candle right there but it's all about the Japanese yen for this Japan 225 so let's go ahead and have a look at this. I will speak to one of my colleagues who are on today who said that there was a color coloration between dollar yen and the UK 100 and the US 30 sorry where if we had a 1% drop in the value of dollar yen that actually translates to actually 0.8% drop but that's actually the S&P actually now think about the S&P 500 so that should be quite an interesting relationship to think about the more that dollar yen drops that actually does have a correlation to the US markets as well obviously Japan being the world's third biggest economy it does knock on the peg but as you can see here from dollar yen it's actually is a little bit over the place as ever it's trying to push up higher and then getting pushed right back down again we are about halfway in between two ranges 1.0544 is that next potential support and I did read that Koroda had said that currency intervention might be necessary and what that does is you know it's all words right now they do have a history of having done this before but sometimes they just try and use the threat of intervention to try and stop the the kind of the bear is taking complete control of dollar yen but doesn't seem to be pushing back you know the calling is bluff right now you know people would have stops and everything else but if there is currency intervention you certainly know about it but what tends to happen is you get this big spike higher but then over time the the markets end up winning anyway so this will go whichever direction the markets want it to go and not direction that central bankers want it to go unfortunately so 77% of seems to mark clients currently long so they're hoping for a move to the upside let's see if they'll be disappointed so moving on to cruel West Texas is very volatile you know it's gone through this massive sell-off phase then all of last week been pushing up higher getting quite close to $40 again 71% of seems to clouds currently short they're obviously hoping that we don't break these fresh highs here so anything if you break over $41 that would be a significant level of breakout for for West Texas crude but let's see if the if the bear is taking control again and then moving on to gold gold as ever all over the place doesn't this head and shoulders formation could still be completely forming it's all about US interest rates still Janet Yellen obviously very dovish other members of the Fed a little bit more hawkish let's see who wins out and then moving on to Euro dollar and GBP USD the euro still getting a little bit of momentum a gap tire this morning but it's it's not really doing a huge amount as we get closer to one spot 1489 I'll be interested to see how that goes you can just see by the long-legged candles here that there's a war going on between the buyers and the sellers so that should be interesting to get the result that this could this kind of consolidation with long-legged candles it will break out one direction soon with 83% of seems to markets clients currently short they're obviously hoping it's not going to break through that potential resistance level and then finishing up with GBP USD and the sterling is not really doing a huge amount to be honest looks to be one spot 41 29 potential resistance and if we then quickly have a quick look at the market calendar see what other information is due out apart from start to earning season there's already all the information out that's due today and if you fast-forward on to Tuesday we've got CPI for Germany CPI for the UK and then Wednesday trade balance date details from China and retail sales and petroleum updates from the US as well well guys that's it for me right now very good trading and join me again tomorrow to find out what happened next thank you very much and goodbye