 The price of oil shot up by a dollar and 50 cents after Iran yesterday At least that was what the media was reporting said that they would join the negotiation table at the end of September in Al Jir the oil conference there was supposed to be a meeting point At least that what was Saudi Arabia was saying that it's supposed to be a meeting point to Form a global alliance to cap the production of oil Markets are really focused on this They went up from $40 to $50 an expectation that the OPEC would be somehow reengaged together with Russia to stabilize the price of oil and to Yeah, to To install some sort of floor in the price of oil Funds worldwide have their highest exposure in emerging market stocks in a year That was what new statistics are showing and that is also Showing and signaling us that investors global investors and fund managers do not really expect a second rate hike by the Federal Reserve. They do not do so right now. They expect that emerging market stocks are going up and that is only a realistic assumption when you Assume that the Federal Reserve will not hike rates in September Because would it then the emerging markets would have troubles again because the dollar would strengthen the Carry trade and liquidity out of the United out of the US dollar would not go into emerging markets anymore and that could derail the equity rally there if you look at the technical perspective and look at the Hang Seng Index in Hong Kong. Then there it has formed an inverted head and shoulders pattern It has activated that inverted head and shoulders pattern It's quite in a rally to the price target, but the price target is still North words of where we are so there's still potential at least in the Hang Seng from a technical perspective So when it comes to the speech of Janet Yellen on Friday, no one really expects that she will say anything about Canceling the hopes the markets have when it comes to the the liquidity and lose monetary policy she might say okay if the data like GDP data, which is coming out on Friday, which will be the first The first statistics about the running third quarter if the third quarter would be good and if economic data will be good It might be a might be Appropriate to hike rates in December or in the coming month or the second half She will do something give hints to that the rate hike is still on that it's still live markets will continue to Go from Fed speech to Fed speech to really try to close in on the On the actual date where there will be a second rate hike The equity markets if you look at the DAX there was this small flash crash on Monday But that has been altered Rendered meaningless actually when you look at the volume Then this flash crash was not the beginning of a crater like a selloff in the DAX, but it was the End at least when you look at it from a technical perspective It might have been the end because if you look at the candlesticks from Friday Monday and yesterday They form a so-called morning star Which is a trend reversal pattern from technical analysis might be that there is A bottom in the star in the in the DAX because of that morning star So that is something that you should actually Continue to watch is there now a reversal in stocks? And will there be a rally after the Yellen speech? That's a big question that we have we have the UK GDP data Also coming out and on Friday the US GDP data and on Friday evening There will be Janet Yellen speaking so there's a lot of signals come into the market Which could provide another spike in volatility come into waters