Sunday night LIVE - 17th Feb 2019

Testing 1, 2. Testing 1, 2. Just checking to see whether or not anyone can hear and see me. If you can, let me know. This is just a test. I appreciate some of you might log on. We're just testing a few things out at the moment. Hello, Will from Cumbria. How's the visual looking? Can you see everything okay? Is it loud and clear? Let me transition my charts. Can you see my, my screen, or can you see the charts that I'm sharing at the moment? If I transition, you should be able to see me a bit bigger. Is this working? Uh, just testing things out. I'll give it a couple of minutes, so any questions you have, just drop them in the chat now. I'll give you a short preview of what to look out for for the week ahead. As I said, this is hopefully going to become a regular Sunday evening thing going forward, but at the moment we've just got everything set up here from, from home. So hopefully Sunday evenings we can, we can do like a short 20-minute session where we'll go through key market events, we'll look at the charts a little bit technically, and we'll look at the calendar overall, and we'll have a full briefing that goes on than on Monday. So, well, I can see a couple of you in the room. I'm gonna have to flip my screen, so I won't be able to see all your comments directly in real time. Well, let me see if I can move things around a little bit. And again, just bear with me, it's the first time we've kind of— we're trying this live session. So let me see if I can get the chat visible so I can keep an eye on what you guys are are asking. Okay, cool. This looks like I should be able to do it from here. All right, cool. Can you see me now? Should be full screen. I know the lighting is not fantastic, but hopefully you'll be able to hear and see me okay. As you can see, this is something that I'd normally do on a Monday, and I will do so tomorrow, but you can see a full calendar of events here. So this is something that I usually tweet on a Sunday, but it forms part of our Amplify weekly strategy report that Sam North and myself, we put out on a Monday. But I thought what could be quite good on a Sunday is just having a look at a few key events to be aware of, and then consequently we'll have a look at a couple of charts as well from a slightly longer-term perspective because we want to include encapsulate the week as a whole. So hopefully, just give me a "Y" in the chat whether you can see the calendar of highlights. If you can see that at the moment, give me a "Y" and then we'll get cracking on a few things to look out for. Can you see the calendar? Okay, cool. So, all right, let's start with, um, let's start with how things really finished last week. And obviously last week was such a real key macro theme, was that of, of course, the Chinese trade war. Now, if you remember what happened last week, the equity market, the S&P, kind of went up and up and up, and it was so positive, the kind of outcome. And let me switch over my, my screen. So what I've got here is a— this is a chart of the S&P 500. Now the price action we were looking at to encapsulate really last week's price movement was a break above quite a key technical area. So if I get an ellipse here, right here, so you've got the 200 DMA. Now this is something obviously that had been in such focus from a longer-term technical perspective, having provided such a nice clear area of support. I mean, this chart, if we were to take it all the way back to, to the dip at Brexit, the dip of the surprise when Donald Trump won the election, and then these other prior occasions when we had that initial crash at the beginning of February of 2018, the recovery. And we've got close to a test of that at the beginning of the month, and then really we tested and then we broke, and we've managed to really close firmly above that at the end of last week. Now, we did have a bit of a market wobble on Thursday people were a little bit panicky about almost getting a little ahead of themselves on the trade war situation. And then it looked like it was at a bit of an impasse. There wasn't really too much happened. And Thursday, the market reversed, only then for composure to be regained. And actually, we finished the week off on the front foot. Now, from a technical perspective, trade wars, for one, from, again, from a technical perspective, we're looking at this real key area here. So this rectangle I've got already marked up, that's a key level of which we are going to be looking at this week for sure. Now that's the trend line from that triple top you can see that was protected back in Q4 of last year, and then also pretty much comes in almost to the tick of that handle, 2800. So just really interested to see given how close proximity— we're within 25 points of that at the moment in the S&P. I'm sure given where we are now, we're going to test that at some point. Now, on the trade war side, there is no definitive date of when the talks are going to recommence. Now, last week, um, what we heard was that now that the talks have been concluded in Beijing, they're now going to move to Washington. And it's really when it starts getting to the real key players like Donald Trump himself, which hasn't actually been directly involved— it's been going through the Trade Secretary and the Treasury Secretary so far— but some of the conversation has been potentially that Xi Jinping and Trump could meet. And that's when, if there is going to be a definitive kind of outcome on these trade talks, it could be key. But I think the end of last week really fitted within expectations, weren't looking for any definitive outcome. It was more about a commitment to keep on talking. And so I do think that this is going to be a really important level. I know if Sam is watching this at any point, he actually put out a pretty punchy call a few weeks ago when he thinks if we break above that 2800, we're going all-time highs. And all-time highs being up here just where we were right at the beginning of October, just short of the 3,000 level on the top of that trend channel through the 2018 price action. So just something to look out for, I guess, throughout this week. Um, going back to the Canada then, one thing for Monday, to be clear, it is a US market holiday, as you can see on that first line. So it's President's Day, no US markets, it's kind of cash markets if you like. NYSE will be closed. It's going to be a shortened electronic trading session as well on Globex, so it's going to be very quiet most likely in the afternoon. It's a Canadian holiday as well. Economic data then, very quiet. We have the Brexit Secretary though, Stephen Barclay, is going to be meeting Michel Barnier, his kind of EU counterpart. So this is going to be— as I'll, I'll keep Brexit on the back burner for a moment because I've written a definitive list that I think could be quite helpful for you guys to kind of plot into your calendar. So beyond that, Tuesday, um, again Brexit aside because we'll, we'll get to the Attorney General's speech in a second, but, um, you've got the RBA minutes, could be quite interesting. If I remember rightly, it wasn't that they were hawkish, they just were a little less dovish in their recent rate decision, which caused the Aussie to appreciate. So I'd be interested to see the line-by-line detail of their conversations. Wednesday is FOMC minutes. Um, so I mean, obviously the Fed have made such a radical U-turn. And if we go back to the, the equity chart just for a second, I mean, there we were down at the 2018 low and, you know, a price point not far off 2,300, and we're all the way back up looking to challenge 2,800. So it's been an absolutely phenomenal recovery. And as I said, the trade war although not resolved, has shown some positive signs. But really the key catalyst here is Powell, the change. And I guess from the minutes, what we're going to be looking out for is really how dovish have they become and what is it that from these external headwinds is— do they see as potential risks to change this 2-rate hike trajectory at the moment in the dot plot to just 0. Now remember last week we had absolutely abysmal US retail sales data. We had weak data pretty much coming from everywhere in the US, and one would think now that it's really not a matter of if but when the Fed's changing that official line to no rate hikes in 2019. That's certainly how the market is priced, and a key reason why the equity market has remained supported of late. On that point, while we're on the charts, let's have a look at another one. And obviously, if the Fed's going to start talking dovish, then that's going to have a read, a read across, or a knock-on effect for the US dollar for sure. And this is a chart here that I was just marking up. And again, all the charts I'm looking at here is really to give you a bit of a framework behind my job, which is the fundamental view. And I think it's quite nice to have that fundamental view gives you the bias. And then on a slightly longer time frame chart— so I'm looking here on a daily continuation— I can see a little bit more of just really key big levels to look out for. I know Sam will drill down a lot more, um, on Monday morning and on Trading Live in our chat room to definitive places intraday of where we could look to get in and out of the market. But from the beginning of the week, this is what I kind of like to do, is just look at the bigger picture. And here you can see we've got this quite nice trend line that's been in play really from November all the way up to where we are at the moment. You can see 1, 2, 3, 4, 5 times it's been respected, and, and that rectangle box here I think is really strong, uh, or important. Now that being that it really held up some of that price action just as it went through that New Year period. This was that real sharp appreciation of gold that came amid that really aggressive sell-off which the lack of liquidity over Christmas really hit those equity markets hard. So that's why that gold gain is so, so violent here. And then we had the period of consolidation, came back in, and then at the end of January we broke through that and we immediately ran up to around the $1,325 mark here in the futures. Now we backed off that, and interestingly, close to two prior occasions have come back down to that previous resistance turned support, and now that trend line as well. And so Just looking at this technically, the price here, given time going forward, you know, it's getting squeezed and would be indicative then of potential breakout onto the upside. Now, if the Fed and the US data, importantly, which it has been getting weaker and deteriorating, if that does happen, could that be the key from a fundamental perspective? And could the FOMC minutes provide that? Now, don't forget the minutes are dated, and we get a few US economic indicators, but there's nothing really massive in US data we we've had CPI, we've had PPI, we've had retail sales last week. It's kind of, does that narrative continue at that point? Now, a break of that technically as well, if we did get persistent dollar weakness, then that 1325, you'd be looking for a decent move back higher then. And, you know, not to rule out going forward 1350, and then the, the highs that were seen going back to— well, this was that double top from last year's highs. Up at 65. So I know, uh, Will would be very happy if that was to play out. I know he's a bit of a gold bull at heart, and it's looking quite positive in terms of that setup. So just going back to the, uh, the chart again, or the calendar I should say, Thursday you can see is where it all starts to get quite frenetic from a calendar point of view. Lots of different things coming out from overnight the Aussie jobs data, which can be volatile for the Aussie currency. I think these are final readings for the PMIs, so to be monitored, but probably not as impactful as we had seen a week or so before. Bond auctions, so for any Bund traders, you get quite a lot of Spanish-French supply hitting the market on Thursday. And then also we've got the ECB monthly minutes, and just like the Fed's, they could be equally quite interesting and impactful for the, for the euro and European assets. Again, this is a question of really how, how do they feel about the, the global economic environment and the associated risks with all these different factors, like the risk of a no-deal Brexit, trade wars— not just with— remember, this isn't a trade war between the US and China, this is a trade war between the US and China, US and Europe, US and everyone else. And the economic data has been weakening as well in Europe. So how dovish could they be, or are they going to be dovish at all? And are they going to kind of play their hand fairly straight, which I think is probably the most likely outcome given that they'll want to keep all options on the table. Um, source comments last week were talking about those long-term refinancing operations being put on hold for the time being. I think that's probably the appropriate play from a central banker's point of view, wanting to not— you know, equity markets are holding up for the moment, and so they'll want to just kind of do as little as possible and use verbal rhetoric to kind of manage the market, if that makes sense. Otherwise, having a look elsewhere on Thursday, you've got quite a few different central bank speakers. Bank of England's Haldane, Fed's Bostic, Bank of Canada's Poloz, RBA's Lowe. So you get a lot of key central bank speakers well on Thursday. And then remember that all inventory data is going to be a day later than normal owing to the presence holiday on Monday. That means APIs on Wednesday night and Thursday night you're getting DOE. Then on Friday you're gonna get the couple things— German IFO. So for any new traders, IFO is a forward-looking soft economic indicator. IFO is a private institute that will basically do a sentiment for current and future 6-month expectations from corporates in Germany. So obviously Germany last week absolutely just on the whisker of a technical recession. Uh, you'll remember they printed GDP at 0%. I think that was previous to a -0.2% reading. So right on the cusp at the moment, and their PMI data has been weakening. And obviously, uh, economy so important and so intrinsic to the overall eurozone success, then then certainly that's going to be something quite interesting to see how pessimistic, if anything, businesses become. You've got political uncertainty as well, not only from Brexit and trade wars, but also what's just been happening in Germany in itself as well. So that could be quite interesting. And then you've got ECB's Draghi speaking. I don't have any direct details on that as yet, but obviously I'll fill you in as we get closer to the end of the week. And then you've got a whole slew of Fed speak as well on Friday. Um, I said we weren't going to talk about Brexit yet. Before I get to Brexit, because I've got a nice kind of little crib sheet that I've done for you guys which hopefully will be useful— before I get to that though, let me have a look at, um, let me have a look at crude oil. Now what I wanted to do is just again look at a little bit of the bigger picture. So what we've got here is encapsulating basically the, the multi-year high that we printed back on the 4th or 3rd of October, coincidental or not, the day before Khashoggi, that journalist, was, was killed. Uh, we had that dramatic fall. And remember, if I was to map the S&P chart over this, it would be literally mimicking that really aggressive correction in, in US and global equities was very much a growth story. Expectations that economic growth was severely under pressure by the tightening of monetary policy and the risk of an escalating trade war. And so oil came crashing down, real change of the supply and demand dynamic. Demand falling away and supply still hitting the market at large volume record levels in a number of countries. So we know that story, markets fell. Now what Rat Plus provide us is a Fib retracement. Going back to that multi-year high to the low that we printed around literally Christmas Day, which is when we bottomed in the equity markets. Now we know what happened here was kind of twofold. We had the commencement of the OPEC+ agreement to cut supply of global crude. So that, that was one very important part. But as I've put here, although the dollar has seen some strength recently, the broader picture since the beginning of the year has been a weaker dollar on the back of the dovish turn by Powell and his colleagues at the Fed. So, you know, if the Fed turn, if OPEC+ really commit to cuts— and they've been making noises last week, the Saudis, that they're willing to do more. It's the Russians, they're a little bit iffy at the moment, but they're committed so far. Um, and then you've got, importantly, China with their central bank and their government looking to do literally whatever it takes to stabilize their economy, to mitigate the downturn. Well, this is powerful forces at play. To try and create then a reversal. Now the reversal of price has become quite interesting because you can see here really it's this rectangle that's going to be quite key for the, for the week ahead. And we managed to close pretty much right on it, just a whisker above it looks like. And that was the, uh, 38.2% retracement of the multi-year high printed last October to the, the Christmas low. So it hasn't yet really definitively got above there. It's going to be quite an interesting place here where if I think we can get ourselves above that level, then I think we've got to be looking up at around the $58 handle, which is— you can see the high here on the 16th, but we go back to the 9th of Feb low and an area of resistance as well back at the end of 2017. I think if we really break that, which I think is more than feasible, then you've got to say we've got to go back to $58 from here. I guess one thing that would be detrimental to this, or to to bring the price back down, at least to retest this trend line, would probably be an escalation in the trade war. If Trump tweets something quite aggressive to get the backs up of China and the talks kind of fall away of any progress that has been made, that would bring about again this kind of growth risk and demand, demand-side risk, and we might pull back down. But the way things are going at the moment I'd say there's, there's a fairly high likelihood that we're gonna, um, maybe push higher. And if we do, I think we've got another few dollars here we could run to the upside. All right, let's then look at a few other things, and one of those will include Brexit. And while we're on the charts, let's look at the sterling chart. So let me make this a bit bigger. All right, so Again, something I just marked up for the week ahead. I thought I'd put in here, um, a little bit of a, an explanation of that really violent dip that we had. That was when Theresa May, if you remember, lost the first meaningful vote. Um, and obviously we know now, given what happened last week, that it's going to be back on to the— we're looking forward to February 27th for when is she going to come back with some amended deal with the legal binding part of the backstop that's been altered enough to appease the Brexiteers for it to be voted through in Parliament and a move into transition and so on. We kind of know the score at this point. Now, Europe not budging. I'll give you again a crib sheet in a second of some really key areas to look out for. But technically speaking, um, I know this trend channel on the bottom side has been a little bit broken through in this period here in the beginning of Feb, but it's really the upside level, I think, the trend line that's quite interesting. Uh, you can see here, I mean, if even if I add a few more rectangles onto the— these price points. So a couple occasions that's played out ever since we hit that kind of second peak from the recovery of the 2019 high, and we're pretty much right on there at the moment. Now that's the 129 handle. What I'm looking at is any potential break of that. A couple areas where I'd be looking on the upside, 129.50 area. You can see here that's an area of support that it has played on prior occasions in the early part of Feb, and also resistance going back into parts of January as well. So that'd probably be first target. Then you've got the, the kind of fib retracement again, 38.2%, and that being— you can see how well that really played out, uh, the trend line here part of that on a technical point, but also with that reversal before then the next move down. But here's probably the key area, and that's the 130 handle. So really the two areas I'm looking at that are quite key is if we were to get up to here, and then also this 130 mark here, uh, that being then you can see some really stubborn resistance when the market was trading back on the 6th, back on the 8th and on prior occasions here as well in January. So can we get up there? And question for that really comes down to Brexit. Now let me switch my screens again. Here we are. This is our Brexit planning calendar for the week. Now let's just get one thing straight here. I am absolutely not expecting any breakthrough on the backstop legal part this week. I think there's one lesson that you can learn, and certainly for me, having lived through the Greek situation that unfolded through 2010, '11, '12, and the various other Portuguese, Irish sovereign bailouts, and having gone through many of these, I think one thing that's very clear is that politicians like to play the game of pushing everything up right to the last possible moment to put themselves in the strongest leveraging position to get what they want politically. Just because Brexit could have very harsh economic consequences both sides of the Channel, that doesn't detract that politicians will still follow this same strategy, in my opinion. So, that being said then, knowing that we've got until another 10 days until Theresa May comes back to Parliament, and even then I still think this is going to run out into March is my personal opinion. We do got it, we have got to be aware of the, the kind of calendar. Now again, end of the week, not expecting too much overall outcome. So again, if I go back to the sterling chart, I'm not looking for a, a massive move to the upside or downside. But that's not to say we could break the top side of this trend line or this trend channel. And that's not to say that we're only— we're trading at 1.29, so to push up and test 1.30 I think is well within the realms of possibility, particularly if we can break some of these technical points. Now, that brings about the case then of headline— what I call headline risk. Now, Monday, as I said, Stephen Barclay is meeting Michel Barnier. So that's the key thing there. Can the Brexit secretaries make any type of new— or give us any type of new information about how they're progressing on this issue? Attorney General Geoffrey Cox, you probably recognize that chap, the guy with the bellowing, booming voice, and he is speaking on legal part of the Northern Irish backstop. He's due to give quite a key speech talking specifically about the legally binding issue of that, so that could be quite interesting. Thursday, Jeremy Corbyn meets with the Brexit Secretary of Europe and also the head of EU Parliament. Now, I don't really think that's— if I was going to rank the 4 things here that we've got on the docket, I'd say that's probably the least important. But could Corbyn really be the, the kingmaker here of any deal? Because where he throws his party's support behind, if it was to be supporting of Theresa May, and if we ever do go down the route of him then calling a no confidence in the government again, which then could hypothetically in coming weeks lead to a general election, second referendum. I think we— it's sensible to keep an eye on what his conversations are and what his intentions are. And then the one that's to be confirmed, Theresa May is to return to Brussels. I understand it's pretty much going to dominate her main focus throughout the entire week. So she's going to be meeting with Juncker, but she's going to be trying to meet and rub palms with pretty much every single European politician there is. So I think you're going to get quite a lot of still Brexit focus in the media. I think there is a potential for some short-term sterling volatility day to day, but I don't think you're going to get that really big definitive relief rally or no deal shocking and sterling plummet. I don't think that's the case. So I think it's just about picking some reasonable— not outlying, but just reasonable solid longer-term levels and playing those and then keeping an ear out for any updates as and when they come. This was the other thing I just wanted to mention. I'm going to finish on this. This is something that I saw on Bloomberg and I thought it was kind of interesting. Now if you look at what we've got, I tweeted this earlier today. This is this week. So on Tuesday you've got Fed's Mester, Wednesday you've got the FOMC minutes, but aside from that you've also got James Bullard and Fed's Kaplan You've also got Bostic on Thursday, then on Friday you've got Bostic, Bullard, Clarida, Harker, and Quarles and Williams. So a lot of Fed speak coming up. Now I do think this is quite a conscious decision from the Fed. Does bring about some question marks potentially. Is there something in the FOMC minutes that they feel is quite dated? Hence they've kind of thrown in a whole cluster of speakers to come just 2 days after the minutes to potentially clarify what it is, uh, that they really are thinking right now, uh, because they don't want the minutes, which again are about 2 weeks old, to kind of misguide market expectations. And then aside from the Fed, you've also got Draghi, Haldane, Poloz, and Lowe from the RBA as well, as I said. Now sticking with the Fed, and again for any newer traders, this is probably quite a useful graphic and you can grab it off my Twitter account. I'll run through a few different things that you can do that might be useful for you. But here you've got the Board of— so basically with the Federal Reserve, the Federal Reserve is comprised of FOMC members, the Federal Open Market Committee members. Now these people are the ones responsible for making the interest rate decisions across the United States. Now within the United States, it's divided into 12 sub-reserve districts and each one of those has representative, but just giving the number of people who are allowed to vote at any one Fed meeting, then basically they have 12-month alternate voters who switch with non-voters at the end of every year. So you have a Board of Governors, you have your voting Regional Presidents, and then you have this alternating group. So that's what these 4 boxes are that you can see here. So Jerome Powell, Richard— you can see Richard Clarida, Randall Quarley, Leo Brainard, and Michelle Bowman. Now, as you can see there, now, a really important thing here to understand from, from central banking is that if you look at the Board of Governors, they've all got a zero beside them. Now, a zero, as you can see from the table on the top right, means neutral. Now that's absolutely as to be expected. The governors, the board of governors— so in the ECB you have an executive committee, you also have, as well as Mark Carney at the Bank of England, you have vice governors and so on— they all tend to be fairly centrist. Now the one thing that you have here with the centrist members, either side of them sit the hawks and the doves. And as you can see here with the voting regional presidents at the bottom, which is down here, you see a +1. So a +1 means he's mildly hawkish, whereas Esther George, the second to the bottom, Kansas City, +2 means she's very hawkish. James Bullard, very dovish. Charles Evans, only slightly, -1 score. So you get the point. So you've got a real diverse opinion of looking at exactly the same inputs but coming to quite radically different decisions of what they think is the best course of action from a monetary policy point of view. Now the alternate members are on the right, and so you've got Harker, Kaplan, Kashkari, and Mester. And you can see Kashkari the most uber-dove, Mester quite hawkish, the other two pretty much straight down the middle. Now the reason why I'm pointing this out is that for any of those new traders, what I suggest you do is grab this, screenshot it or print it, stick it in your diary for the week. And then as we go through these different speeches here— Tuesday, Wednesday, Thursday, Friday— there's absolutely zero excuse why you don't know their monetary policy stance. And so when you're looking at your calendar, it's not a case of being reactive, it's about being proactive to prepare so that should they say something out of kilter, out of line, i.e., Kashkari, who's an uber-dove, says something radically hawkish, well then that dollar is going to react at that point. So yeah, crib sheet there, hopefully that will be quite useful for you. And again, these types of things, so as you can see here, it's a picture of me without my glasses on, um, but throughout the session even in the evenings and the weekend. I'm always kind of keeping— my job basically is to keep an eye on the news for our traders. So I will be tweeting things that I think are interesting or useful for them and others. So you can see here, this is the calendar that I've just talked about. This is that Brexit kind of run-through as well for the week and what you need to focus on. So all of these are just tweeted this morning. If you want to follow me on Twitter, then just jump onto Twitter. There's my handle, it's just @awmchung. You can follow Amplify's Twitter account. Let me just bring it up for you now. Amplify's Twitter account serves a slightly different purpose. So on my one, I just put forward my own opinion, interesting things I'm looking at. I'm going to give you two more. The Amplify one, this is where we share key stories from the major financial newswires every— typically every morning when I come in. So China's factory price gains adding to deflationary concerns, US-China trade talks, Trump and his— the border wall issue that we had, a version of government shutdown last week. It's a really nice way to just keep on top of the news. You can follow us, uh, just ask Amplify. And then the other guy you're probably familiar with, who you see on the briefings with me very often. Here he is playing golf. Sam. Sam North. You can follow Sam, @snorth19. And as you can see from Sam's tweets, they're very different to mine. Sam is our in-house kind of technical analyst guru. As you can see here, nearly every tweet that he does has an element of kind of technical setup to it. So if you like, if you wanted to divide us into two as one cohesive team, I'm the fundamental guy, he's the technical guy. Okay, a few other things just while I'm online, and then I'll see if there's anyone who has any questions. This is the Amplify website. For those who've never come across us before, or you've only ever looked at us on YouTube, just jump on to AmplifyMe.com. Presumably most of you guys, if you're listening to this, will be either looking to learn more about how to trade, or you're already trading or spread betting and you want to know more about how to understand the fundamentals. For example, it's quite a common route of the, the people that we we encounter for our training programs on the trader side. That would be working specifically with me and the other members of the team. So if you just click on that button, and then basically here you can see all the different courses that we have. So we have a 1-week course that we deliver in the City of London at our offices. Next one of that's happening on the 4th of March, so you can get more details here on the, on the trader page. We have a career program that's our kind of flagship 9-week program. So that's where we would teach you over 3 stages of 3 weeks in London, but you can do that remotely or hybrid, we call it, as well. One very unique thing that we do is we allow all trainees to trade live funds, our funds, in the last 3 weeks of the program. Because for anyone who has traded, I'm sure you'll understand, it's the psychology that's ultimately critical to being successful as a trader, and it's something that's very unique to us, and we feel is absolute necessity if you're going to learn to trade, and certainly whilst you're in the mentorship of our guys as well. So yep, that's the career program. If you actually go on here, there's a few other things on this trader page. One is the morning briefing, so I'll jump on that in a second. But if you pop your email in this box here, you'll be able to get the strategy report that Sam and I will send on Monday and sent to your inbox. So you just pop your address in there, hit agree and subscribe. Here's a couple of stories from a couple of traders that we've had who've done our program and gone on to do some really excellent things in their own unique way. And here's some more information about different courses as well. So yeah, check that out. Otherwise, you're already on YouTube, so who— let me just show you though one thing that you can do. So once you're on our homepage, you should be able to click— I think it's because I'm logged in here— you can click subscribe, and there's a little bell normally around here. If you click that bell, it will enable notifications. Every morning, if you— if we upload our briefings, then you'll be able to see them as and when. If you wanted to actually get the— watch the briefings live, then the website you need to go to is called Trading Live, this one here. So quite often you hear Sam and I saying in the briefing, we'll see you in the chat room. The chat room is our internal— all of our traders on the course and post, and those that have traded with us years gone by. We form a community online where everyone has access to talk to me and all the others on the team as well as each other, and they share trade ideas and other stuff, research and so on. So this is the website, tradinglive.com. You can check that out too. I'll pop some links in the chat room, uh, you can have a look at. Okay, let me just have a quick look if there is any questions. So let me just switch my— make the chat a bit bigger so I can see. Has anyone got any questions? Otherwise I'm gonna wrap things up, I'm gonna get some sleep, and then I'll let you guys enjoy the rest of your evening. Any questions, anyone? Fiddle FX Analyst. Anthony Cheung. Yep, absolutely no problem. You know, if it helps you guys, me going through the news briefly on a Sunday. As I said, I'm just testing this out really. Probably I'll try and keep it once we get everything really sorted. I'll try and stick around 8 PM on a Sunday, and I'll probably go from 8 till half 8. And I'll talk just predominantly about the news. And give you a bit of a view about the week ahead. But Monday morning we're going to recap this a lot more thoroughly with Sam as well on the technical side. But I appreciate your comment and I'm glad you enjoy it. Vince, hey Vince, hope you had a good weekend. The morning briefing, the actual full morning briefing, you have to go to YouTube or watch it live on tradinglive.com. I do do a 60-second update purely of the key news stories on Instagram every morning as well. So if you're on Insta, then that's another way you can keep on top of the news. But YouTube's where we'll do the full thorough kind of analysis, if you like. Someone said they need particular stocks. So Amplify, we're— we trade global macro based strategies across different asset classes. So we take a very much top, top-down approach. So starting with the global macro, then isolating it into different individual parts that can include then, uh, US, UK, and European indices. So we wouldn't trade a single stock per se as a firm, but certainly this week you've got coming up HSBC earnings, Barclays earnings, uh, BAE Systems. If it's a larger market cap like HSBC, for example, then I think as a FTSE trader you've certainly got to be aware of that, and we would watch that as well. US earnings season is pretty much done, so that's probably of a lesser consideration going forward. The companies that are coming out now are relatively small. Walmart is coming out though this week, and in fact Walmart is one which you definitely do need to be aware of if you are trading US index futures. They're coming out on Tuesday pre-market. Any other comments or questions? Yeah, Albie, we do do Instagram. We do a daily bulletin. Normally I do that about 7:45 in the morning from the office. 60 seconds, just literally snappy news headlines. That's it. Is there a one-off monthly fee for Trading Live? Just jump on tradinglive.com, Martin. There's a— I believe it's a 2-week free trial, and just check it out. You get a couple of things there. You get a chat room that I've mentioned, but you also get a squawk box, which is a designated 24-hour manned analyst team which basically squawk in real time through audio format any news that comes out. For us, it's a necessity. You can't trade without it. Not that I would encourage people to trade the news, but obviously having a whole designated team of analysts watching financial newswires, talking to journalists, brokers, listening out and watching for rumors and hearsay on Twitter, that's a surefire way, at least as a minimum once a week, where you're in a position of risk and you hear a comment come out in the squawk that you might not have been aware of, and it will save you a lot of capital in the end. So it acts as a good safety net for us as well as creating opportunity as well. Yeah, Trading Live— Paul's in the chat room actually here talking now while I'm talking, so thanks, Paul. Trading Live's £114 a month, um, and importantly includes the squawk service. You would normally have to pay for that separately. If you were going to go to any Squawk company. But that's integrated. So you've got the chat room, you get like research sheets, you get the briefings live in the morning. So I'll do those at half past 8 every morning. But, you know, really bouncing off ideas with other traders is so important, particularly if you're trading from home, because I know it can be quite a lonely place if you, if you're not in an office or trading floor environment. But yeah, I'm sure Paul— his name is— there's a 1-week free trial. I've just got to trading-live.com. Absolutely, just check it out. You've got nothing to really lose there. If you don't like it and it doesn't suit your trading needs, and that's absolutely fine. All right, I think that's about it. George has got a question. So George Do you have to go through the training program to be a trader with Amplify? Yes is the bottom answer. We don't, as at this point in time, maybe in the future we might do, but we, all of our traders who go through the program who we back to continue trading would typically trade from home remote. That's because quite a few of them live in London, but a lot of them live either outside of London, whether that be the Midlands or up north, or north, or even abroad. So what happens then is they continue to trade our account under, you know, strict risk parameters and risk monitored by the team in London, but then they, they tune into the trading floor via the Trading Live platform, which is all paid for. The trading systems are all given to you by us. But yeah, you'd have to do the Career Trader program. You couldn't do the one program and be backed. You'd have to do the full entire 9 weeks. Our 9-week Career Trader program as well does, at the end of it, whether you, you get backed or not, it will give you a Level 5 diploma, a professional qualification accredited by the London Institute of Banking and Finance. So either way this goes, Quite a lot of people might even take that 9 weeks and use it to leverage the fact that they've had a front office experience to maybe transition within a different part of an institution that they're already in within the financial sector, or for maybe younger people as another way of just adding another string to their bow on their CV as practical experience that they've actually traded live funds in a real marketplace at an established trading firm. Paul, if you can hear me, probably one thing that could be quite useful, and I'll see if I can— well, let me see if I can dig it out now. If you wanted to get an insight into what it's like at Amplify, let me just drop in this link. Now, we featured as a company in a BBC documentary 2015. So it's a little bit old now, but it does give you a bit of an insight as the type of things that we do. So if you're ever interested and wanted to just, just have a look, it's— Paula, I've put it in there, so don't worry. Yeah, I'm obviously committing to a long-term trading course is not— it's obviously a big expense of time and money. So obviously you'd want to go through and do your kind of due diligence, I'd absolutely appreciate that. But if you ever wanted to come into the office to meet myself in person or any member of the team, then 100%, that's absolutely, absolutely fine. Just email info@amplifiedtrading.com if you ever did have any questions. Let me put this video here. Is the Career Trader program, which might help as well. I'll put here a link. Uh, JM, yeah, I mean, if you're coming over from Poland, 100%, just stop by the office and you're more than welcome to. Um, the main— if you email this email address, and this goes for everyone, you know, absolutely, we've got nothing to hide. If you want to come to the trading floor and all you need to do is just give us a heads up when you're in town and yeah, we'd love for you to come in and see what we do. Yeah, info@amplifytraining.com and then my colleague Ellen, who's the head of operations, can sort out something for you. All right guys, that's it. I'm gonna leave it at that. Let you guys have a good evening. I hope that was useful. As I said, this was a bit of a test run more than anything, so I'm glad to hear that everything's working fine and the camera feed and so on. And I look forward to doing more of these in future. But as I said, you can catch us on Twitter and all the other ways if you did have any questions in future. Cool. All right, thanks very much, guys. Gonna end it there. Take care. See you tomorrow morning.