 Good afternoon and welcome to the weekly market update with me, David Madden. Today's date is Monday, the 9th of November, 2020, and the time has just gone 12.09 GMT. And it's been a very bold start to the European trading session. The equity markets in Europe were already in quite a decent shape, given the kind of the bullet sentiment we saw back in the last week in relation to the US presidential election. That was really been assisted, and that really kind of carried over into the early hours, at the beginning of trading today and Monday, but in the last hour, probably in the last half hour, we've had a very positive update in relation to the coronavirus crisis. Pfizer and BioNTech have been working on a potential COVID-19 vaccine, and they stated that the latest round of the trials stated that the drug they're working on is more than 90% effective. This is really Jordan's stock market tire. They're already high, as I said, well in advance of the news, but this has really taken things up a notch. In relation to US politics, Joe Biden won the US presidential election. We're not seeing any signs so far of Donald Trump conceding that he lost the election. It's looking likely that the Republicans are going to maintain control of the Senate, the Opera House in the US, and therefore it's going to be difficult for Mr. Biden to bring in the kind of less pro-business policies that he wanted, higher taxes, tougher regulation in relation to the pharma sector and also the tech sector. That's the reason why stock markets were already reacting well. It seems that traders are pretty content with a relatively restricted Joe Biden entering the White House next year. But keep in mind, President Trump hasn't conceded. We could be in for a lengthy and drawn-out leak about on that front, but for the time being, the Pfizer and BioNTech coronavirus drug story, that's the real story in town at the moment. As always with the videos, I run through the week ahead. The week ahead article can be found on our website, cmcmarkers.com, under insights, under latest news and analysis. You'll find it here. Over the weekend, we had the trade figures out from China. Tonight, after the close in the US, we're going to have the third-quarter numbers out from Beyond Meat, the kind of meat substitute crowd. Tuesday, we have a number of updates coming out with the German ZEW. We have third-quarter numbers coming out from Persimmon. Keep in mind, Taylor Wimpy, another British home-builder, had a positive update today. Tomorrow, we're going to have the UK's most latest unemployment and earnings numbers. On Wednesday, we have Q1 numbers coming out from JD Weatherspoons, kind of the big British pub chain. Vroom have third-quarter numbers coming out on Wednesday too. Thursday is going to be a busy day. We have first-quarter numbers coming out from Cisco Systems, fourth-quarter numbers coming out from Disney, third-quarter numbers coming out from ITV, and planetary technologies have third-quarter figures out. The big event on Thursday in terms of the economic front is going to be the UK third-quarter GDP numbers. This will be kind of finding out, are we going to see the elusive recovery in the economy. Keep in mind, we have seen a strong growth rebound in the US, but we're still nowhere near the growth level we were at back in January, February, in advance of the crisis. For those of you who regularly watch my videos, what I'll do now is the usual routine. I'll run through the big indices, I'll run through the big currency pairs, and then finally I'll run through the big commodities. So starting off with the FUDC 100, like I said, wow, look at this, stocks are already, the big indices were already in quite decent shape going into at the very beginning of today's session. We saw stocks fell to a multi-month low in October, they've been pushing higher. We've now hit levels last seen since August, things were driving higher on the FUDC 100. We're comfortably above this red line here, the two of them moving average. While we can hold above that at 6,125, it's likely we could see further gains. From here, we could be looking at retesting this zone here in around 6,342, and he moves to the downside on the FUDC 100, could find support commitment to play in this yellow line here. The 100 moving average, on a few occasions, that metric there, they're about active resistance there. They're about in mid-September. It actually has a consolidation zone back in August, so keep an eye out for it. That comes into play just north of 6,000 in a 6,015. That area could actually support, should we see, a bit of a move to the downside already kind of pullbacks. But keep in mind, we've been moving steadily higher the last few sessions, and now with the COVID-19 drug news, sentiment has really gone up a gear. In fact, you'll notice me basically saying a very similar thing across the board, we're looking at the DAX, the Dow Jones, and the S&P 500, whereby we had multi-month lows in late October. We were already rebounding and pushing higher. Things got pushed higher again in the back of the news that was looking like Biden when the election, but not the Republicans, would maintain control of the Senate. We've been pushing higher here on the DAX rather, back up at levels last seen again in mid-September. So we've really kind of shaken off a lot of the negative moves that we saw in late October. If it continues to drive higher from here, we could be retesting the highs of early September in around 13,460 thereabouts. Keep in mind, the level that was achieved in September was basically the highest level achieved since February, March. They're talking levels and it's kind of the pandemic really set in. If we do see a bit of a drift lower, we could see the board come into play in around this zone here, some acceleration we saw in around the kind of 12,530 mark. I think all of that spoke to me to play from this area here in around 12,369. Turning our attention now to what's going on over in the US, turning up the Dow Jones. Wow. So the Dow Jones, obviously cash trading hasn't begun yet, but we've really kind of had a jolt to the upside. In fact, the highs that were, you know, the level we're seeing the Dow Jones, the cash Dow Jones we know when the cash trade does begin, we're not looking at levels back last seen. Possibly, we could even be looking towards, we could be looking towards all-time highs. This mark keeps on moving, moving. We're expecting the Dow Jones to actually achieve, or the looks of it, all-time highs. This is a huge move that we're seeing right here right now. Yeah, so we are looking to move caught to be above the highs that we saw in February, which are an all-time high. So we're currently expecting the cash Dow Jones once it gets trading to begin around 29,890. So if we continue to press on higher from here, 30,000 is going to be the next big level to keep an eye for. It'll be kind of like a larger number on that front. If it do manage to drift a bit lower from here, back towards 29,000, you know, we could be looking at heading back down towards 29,000. If we have a fairly sizable fallback support could come into play in this blue line here, the fifth of the moving average at 27,924. Let's take a look at how bullish things are going to be on the S&P 500. I'm guessing we're going to be seeing things that we're also going to be looking at, you know, a new all-time high. So as you can see here, we have an all-time high in September. We had the lower low, the lower high, the lower low. We had decent recovery from late September into early October, but the highs of October failed to take off the highs of September. We've had a set off in October, as we did across the board. We've been driving higher recently, and we're looking now expecting the S&P 500 to open at around 3,640, well above all-time highs that were achieved back in September. So we're in very bullish territory here. If we continue to move on higher from here, we could be looking at targeting, you know, we're pretty much in unchartered territory. So we could be looking ahead towards 3,650, 60, so on and so forth. Any pullbacks that we do, that we could see, might find support from this general zone here at around 3,530, down to around 3,525 zones there. And we could have support for CEC, who's on the downside. If we take out that level, support could come into play for this blue line here, the fifth that is moving average, and that is just north of 3,402. Notice how it actually has support and resistance not too long ago. So it could be of importance in the future, but obviously there are no guarantees. Now let's take a look at what's going on in the major currency markets. In the last few weeks and months, the dollar index has been a popular state-of-the-art in play, and conversely, whenever there's been a full of sentiment running through stocks and metals and commodities, we've seen the dollar slip. So I haven't really changed a whole lot. The change in the day is fairly low on the euro-dollar today. But keep in mind, today we've already hit a multi-week high levels last seen in September. We've been moving higher in the last few sessions, partially because the year starting are kind of proxy in that if the dollar is risk off, the other side of the trade, euro is risk on. So when overall central sentiment has been improving in stock markets, we've seen a dip in the dollar, and in turn, a rise in euro-dollar. So if we continue to press on higher from here, we could really be heading back up toward this area here, in around the one-spot 20 area, move to the downside, could buy a spore from one-spot 18, or perhaps in this blue line here, the 50-moving average, and that comes into play in a one-spot 17, 70, 76. It's a similar issue, right? It's a picture of where the dollar is sterling, the dollar is sterling, the dollar is sterling. It's not as low as the dollar, but I'm telling you, all of our ag in that we have achieved market sterling pound, sorry, sterling dollar, rather, we've probably been moving hard the last few weeks. Today, we've hit the highest level of seems in early September, so we're talking about there, there are about a two-month high on the cable, pound-dollar. If you press on higher from here, we could be looking at targeting 130, and if you go beyond that, we could really get it up toward this zone here, in around one-spot 32, 69. If you have a fairly decent pullback in pound sterling, we could head back toward this blue line here, the fifth of the movie average in a one-spot 29, 79. So the entire zone of 130, one-spot 29, 79, that entire area could act as support should we have a fairly decent pullback. Coming up now to commodities, so looking at first off with the gold market. So traditionally gold has been a safe head in play, but what we've also seen in gold is that whenever, more recently, because the dollar has acted as a safe head in play, a weaker dollar has often assisted gold, that relationship hasn't always been the case. So we're kind of back to the old relationship, whereby gold tends to outperform, where you're nervous and stocks are falling, today we're seeing stocks rally, and as you can see here, a fairly sizable set off in the gold market. Now, if you take a look at the price action, in terms of, it could be coming to an important level because when gold fell to, you know, multi-week, multi-month lows in late September, we can see that this area here, in around the one hundred and movie average, I could see as support, and we've had an aggressive move to the downside today, and back with the Pfizer, COVID Pfizer BioNTech news. I want to know, we're on back to this one hundred and movie average. So it could be an important point on gold, which also coincides with 1900. So not only is it kind of a big number, it's also a metric, which has been of importance in the past. So we could see support coming to play from 1900, but if we do see a continued move lower, we can head back down toward this zone here in around 1860, and a break below 1860 could take us back down toward this area here in around 1848. If on the other hand, this is just a kind of a knee jerk reaction, fatal dump gold because they're buying up stocks, it could be a case that the market settles down, trades a bit sideways, and then the broader upward trend of the last few weeks continues, because if you take a look at the price action, it's broadly been moving higher, you've seen the higher high, the higher low, the higher high. So if the broader upward trend continues, we could be looking at targeting this zone here in at 1973, and if you go beyond that, we could then be looking heading up towards 2000, and that's a big psychological number. And lastly, coming on to oil markets, let's take a look at Brentwood Oil, the January contract. So like with stocks, we saw the overall, there was concerns about, in late October and in November, there were concerns about what's going on was state and global economy, what's going on with the technical uncertainty in the US and the current lockdowns that are coming into many countries around the world, particularly in Europe. We're going to sell off a market, we'll just build a profit through it again in May, but since then like we saw with stocks, we saw a decent rebound, or where did you know an overall sentiment in relation to COVID-19 has been lifted today? We're seeing a decent move to the upside bring food oil. If you press on higher from here we could be looking at re-testing this yellow line here, the one with the moving average. That comes into play at 43, about 45. If we go beyond that we could be looking at heading up toward this zone here in run kind of 44. And then if we kind of take up these highs along here, the highs of mid-September and around 44 by 76, if we go beyond that we could then be looking at heading up towards the highs of early September. If the energy market does manage itself yet again, we could be looking at heading back down towards while it is low in run 39, 33. And we will actually take this down to 44, this general zone here in 38. And that's all for this video. Thank you for listening. Have a good trading week and good luck.