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!

A Whole Lotta Nothin’ 11/19/20

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

Nice little pullback yesterday. But 3540 and 3520 on the ES are both important support levels. We should see a bounce from one of those. And if not there, then major support at 3510. I wouldn’t get too excited about this pullback unless they take that out.

Liquidity moves markets!

Follow the money. Find the profits! 

At this point, there’s no indication that that will happen. The 5 day cycle projection is now 3550, done. 2-3 day cycle projection 3540, almost down.

Trend resistance is currently 3560 as of 6 AM ET. That drops to 3545 at the NY open at 9:30 ET.  Next resistance levels above that would be around 3565 and 3570. If cleared, look for 3585 again.

Your new TVC (6).png

 

You can see on the 30 minute bars, they already look like they’re headed back up, with big positive divergences on the indicators, after ES found support at big downtrend channel centerline.  Test of resistance 3555-3560 now starting looks critical to the outlook for the rest of the day.

Your new TVC (7).png

Follow my comments and join the fun during the day at the Stool Pigeon’s WIre.

And Looky hyah for the big picture.

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 LiquidityTrader.com, 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.