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If You Come To A Fork in the Road, Take It 10/21/20

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

4:45 AM ET

Liquidity moves markets!

Follow the money. Find the profits! 

We have arrived at that fork. Downtrend meets uptrend on the hourly chart of the ES fucutures here at 4:40 AM ET. Hourly oscillators have just edged to the sell side. The 5 day cycle projection still points to 3400 but multiple support lines loom 3425-3415. All rise to 3420-25 when the judge enters the courtroom at 9:30.

Those lines and the pivot low must be broken for the jury to render a gullty verdict. If they hold, I’d look for a big move up today. If they don’t hold, we’ll go down, but it will be choppy, with BTFD levels every 10 points or so.

Click to enlarge.


Interesting perspective on the two hour bars. If the oscillators do roll over below the zero line, odds are that we’re in for a big drop.

Click to enlarge.


At 5:20 AM


Technical term.

30 min bars. Click to enlarge.


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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. 

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