 Good morning from the Frankfurt office of CMC markets and welcome to the new trading week and good luck to everyone I am looking for the trader who still thinks that the monetary policy of central banks is still a good thing on the long run Actually, I realize that I do not know anybody anymore who is no longer skeptical in this regard Please post your comments below of this YouTube video The reason I'm asking is that I realized that we have an equities rally that nobody really believes in The latest Reuters survey shows equity holdings of global funds Reached their lowest reading in the history of the survey which dates back to before the year 2000 in addition to this Begin to Markets begin to do the opposite of what central banks are intending to achieve This can clearly be seen in the Japanese yen strength after the Bank of Japan Expanded its monetary policy measures once again now Rumors around a new QE program by the ECB are starting to circulate and if markets are being beginning to pick this up There might be a strong catch-up rally in European stocks which lag behind their US counterparts in the past weeks on the heels of Brexit and banking stability fears watched also the S&P 500 index today Which has been consolidating for the good part of the second half of July It could break out of a bullish formation it formed which could mean you record highs for US stocks There will be non-found payrolls numbers out this week alongside supply managers and services Service there was one survey out of China the kayaks in purchasing manager index which managed to rise above 50 again Which means at least I not a contraction anymore Which is a good news and Asian stocks this morning are at a one-year high So that might pose well for the trading day today in UK and US and European stocks Yeah, and if you look at the US stocks They have been as I said consolidating and if the economic data is right this week There could be a breakout to the upside and there could be new record highs and wall street So keep that in mind and on your watch list other than stocks watch WTI and print prices this week as they Tested their 200-day moving averages on Friday and bounced off this major support after dropping 20% There could be 20% in the past weeks oil has been dropping 20% in the past weeks after that There could be some leeway for a recovery should inventory and economic numbers this week support such a move