Sorry Randy it was Scottsdale AZ, not Vegas

Thank you for your reply, by the way we just broke today’s highs, divergence confirmed?

Just to balance things out :) – i for one would prefer more written analysis/charts during trading hours because I often don’t have time to watch the videos until after market closes.

Thx for the feedback. Ideally, I like to keep the videos 15-20 min & should be able to get some of those out soon, especially when covering only the stock market or a particular sector/asset. Lots of moving parts & potential developments to watch right now & just about everything that I covered in this video is either directly or indirectly related, hence the reason for lumping all of those various assets classes together in one video. Thx again.

Thx for sharing that. The ripple effect of such large scale cancellations of business/sales meetings & conventions throughout the US (and beyond) must have an enormous impact on the hospitality & travel industry as well many other industries. Can’t imagine people are excited to jump in an Uber or taxi that 20 other people have been in earlier that day (UBER down ~35% in the last few weeks).

The market will soon start to work on separating the wheat from the chaff & so today we’re seeing tech (XLK) as the strongest of the 11 sectors in the S&P 500, which only makes sense, particular for the tech companies that derive most or all of their revenues from electronic services such as GOOGL, MA & V (credit cards), MSFT, etc.. I’d even think that Corona may be a net plus for AMZN as it should drive more online vs. physical store shopping but at the end of the day, broad-based selling will drag down just about all heavily-indexes stocks just as broad-based buying (a rising tide) tends to lift all ships. As of now, bargain-hunters are buying tech aggressively today which is the primary driver behind today’s rally (other than the bullish defense of that key support on the QQQ & /NQ daily charts coupled with the 60-minute divergences… although they go hand in hand).

Good to know, thx for sharing. I figured Vegas would be one of the hardest-hit cities with everyone in close proximity indoors with tons of hands all over the one-arm bandits, chips, buffets, etc.., not to mention all of the canceled conventions & business meetings.

Not in my opinion. While trendline drawing is an art, not a science, I use both the candlestick shadows (the skinny parts) and the body (fat parts) with the more candle shadows and/or bodies touching a trendline, especially at various distinct points (not just consecutive candles, although that helps too), the more valid or significant the trend line.

What I can say about /NG is that since first posting that “potential” trendline earlier today, the near-vertical rally was effectively stopped cold at that TL, which is one form of a reaction, which I define as either a consolidation (which this has been so far in /NG) and/or a pullback, which we could still get as /NG is still trading on or just a hair above that TL as I type.

Yeah this isn’t a YouTube algorithm just give me all the info