I've gotten to the point where i collected all 4 books that are involved in that Daedra cult, and was sent to the Green Emperor Way, or some such. At exactly noon, something is supposed to happen near the Imperial watchtower. Do they mean the giant building in the middle of the square ? And whatever it is that happens, will it be outside, or inside the building ?

I've been waiting outside, and nothing happened, but i don't have the slightest clue if i'm in the right spot. Could someone point me in the right direction please ?

CLICK on F4 then click on the current quest challase (the one with out the hand holding it) to make it your active quest then click on the Challase without the
hand holding it and click on the word MAP and it will show you exactally where
you should be. Look for the red or green Quest Target arrows & the yellow one is
you. look and see where your arrow is and point it toward the red or green
arrow then walk over to them and check your map again. Check the time by pressing
The "T" on your key board and then click cancle or wait to within 30 min or so of
the meeting time, then just stand there.

This is the easiest way to do every quest or to find out where your suspose to be
on every quest. Many times you will think you need to be in one place and after
checking the active quest Map you'll find out your in the wrong place or city.

Another way without using the compass is think about what it says literally.

[MAJOR SPOILER]
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WHERE THE TOWER TOUCHES THE MIDDAY SUN
So find the place where the top of the tower just obscures the sun. You'll find something there and you'll go "ofcourse!"
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[END SPOILER]