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!

Lee's Free Thinking

Remember to Put On Your Mask When You Stop At the Rest Area 11/18/20

by  • 

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

4:30 AM ET Dare we dream? Two straight down days?

Nah.

Yesterday, I pointed out the importance of the 3586 level. We’ve got a double bottom there on the ES fucutures hourly overnight. If they clear multiple trend resistance at 3611, it will be up, up and away.

On the slight chance that they break 3586, beware of a fakeout shakeout to trend support now at 3575 dropping to 3571 when NY opens. Only if that’s broken is there a shot at more than your daily shake and bake sale.

On the other hand, if they clear 3611, then we’d be looking for 3645 in a heartbeat, with a possible bathroom break at 3620-25.

The Old Line Trading Firm of Dewey Cheatham Burnham and Howe

LEE ADLER 

 

Please remember to don your mask when stopping at the rest area. Those bathrooms are full of virus.

Click to engorge.

tvc_d06720141dcd5c347d94813dd00840fc.png

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.

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.