 Hello, welcome to this market update from CMC Markets, the title of this video is four years when summer trading was not dull. The reason I'm highlighting this because sometimes that is with the perception that the big moves don't happen in the summer, markets can often be range bound, while that would probably be an ideal situation if you're a long-term investor, you don't want the volatility as a trader, the volatility that we have actually seen in the past few summers has been a real godsend. So I just wanted to highlight a few examples really, don't have to look too far back just this summer alone. Obviously we've had the EU referendums and been a very specific event risk there and it's caused some big moves in the UK 100 and the British Pound, I've got both of those on the screen here. These are weekly candlestick charts, but you can see obviously Sterling jumped up to 150, fell all the way down to 130 just in the month of June alone. You've been on holiday at the time though those moves would have been missed, equally in the FTSE 100 you can see in this weekly chart, this was the prior trading range, we obviously dropped down towards the bottom of the range, but we've since subsequently in the summer months broken out into a new uptrend in the UK 100. It seems like the lower liquidity just means there are fewer market participants with an opposing viewpoint to counteract these sunbursts of volatility, so the volatility itself often focuses the market attention on serious problems at hand. And so obviously in this case it was a Brexit, but then looking back into 2015 we had the burst of the Chinese stock market bubble, that caused the Shanghai Composite, the benchmark index from China to drop 30%, it took the delisting of half the companies on the index to actually stabilise those declines, but obviously that spread to other markets and again we can look at the FTSE 100 and see the declines we had last summer, this was as you can see on the screen there in August and in the two weeks during August the FTSE fell 15%, fell a thousand points, so a trend obviously you'd want to have done your best to take advantage of 2014 was the big moves in the US dollar and in oil, so you can see we've got the oil market on the screen here, you can see what kind of what happened here is that we're in a range but it was during June, July and August when we took out the 200 week moving average and from peak to trough from August through the end of the year in 2014 all prices dropped, the Brent crude price dropped over 50%, likewise if we look at this Euro chart you know we can see that during 2014 similar concept during the summer months dropped below its 200 day moving average and obviously went onto plummet about 3,000 pips, so a huge trend in the FX market. In 2011 you know you could say in 2012, 2013 there was just a strong uptrend in equity markets not the kind of massive shakeout you'd expect but still an uptrend taking place, in 2011 it was the European debt crisis really coming to a head and that was most evident in government bond markets, we saw the yield on Portuguese debt going up above 13% in Greek debt was almost 30% on the 10-year government bond, it was fairly unprecedented levels but also very much apparent in the Euro chart, you can see if we scroll back here it was during this period of time when we'd been in a bit of an uptrend higher but we took out the low here and during August plummeted from a peak of around 145 dropped about 1,300 pips down to 132 but then what was crazy trading at the time if you remember we just went right back up again almost taking out all the losses up to 142 so gained you know close to a thousand pips on the upside as well, so massive volatility again to be taking advantage of and so I think the conclusion that we can reach here is that you know when you're trading financial markets you want to take advantage of the big moves the last few summers have seen some big moves taking place across markets looking at this year the summer is almost over but certainly fears that the Fed may begin hiking rates, US elections, Chinese currency devaluation and Italian bank flare-up and Brexit all reasons that the markets could decide to pull the trigger collectively and we could see some bigger moves again so if you do see some important levels being taken out in the markets that you're trading don't assume that that move can't continue just because it's summer the last few years have suggested otherwise, right thank you very much for watching the video, good luck with the trading for the road of the week, Jasper all are signing out