Support the Wall Street Examiner! Choose your level of support to receive a free proprietary report as my thanks. Click the button below to see your options. Become a Patron!

Support Break Tested From Below 7/24/20 – Update 11 AM ET

This is a syndicated repost courtesy of Stool Pigeons Wire at To view original, click here. Reposted with permission.

Scroll to bottom for latest updates.

Liquidity moves markets!

Follow the money. Find the profits! 

The ES broke a trend support line overnight, and has rallied back to it here in the pre-market. It found another support line at 3200 and rebounded. That’s now the number to watch on the downside. If broken, then look for a move to 3183.

ES has edged above the overnight downtrend line here at 5 AM ET. That line is now at 3214. If they don’t stay clear of that, bears will stay in control. If they do get above it, they can run it higher for at least the first half of regular trading hours, toward a target of the 3230 area.

ES Futures Hourly Chart

Longer term projections and suggestings at Lee Adler’s Technical Trader. Read it risk free for 90 days.


Update 7 AM ET

Hourly indicators have gone to the buy side. 3 and 5 day cycle up phases due. Cyclically, today and Monday should ideally be up days.



Update 10:40 AM ET

Edging closer to failed buy signals here. Could signal a crash if they break 3189.



Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

Try Lee Adler's Technical Trader risk free for 90 days! Follow the money. Find the profits!

Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.