200 and 150 day MA's (1118~ish) seem to still support the market. 1118~ish is also the trend line support channel. If broken expect a down wave to end around 1110~ish, support from the weekly MA's.
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This blog is in two parts, one my thoughts on the market and two, develop a trade strategy that I’m calling “Divergence Trade of 3’s”. This is my attempt to bring everything I’ve learned into a tradable system. Taking the key importance of things like Elliot Wave Principle, Fib retracements, Indicators (CCI, MACD, STO, ADX, RSI), Trends or Channels, Trade zones, Divergence and most important the relationships of different time frames I am going to attempt to tie them together.
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