Interesting day to trade today. I noticed those pullbacks to the 50, but was a little uncomfortable going long with the persistent negative tick and momentum divergences throughout the day. But I think the long trade from the 50 around noon eastern time was a good one though, unfortunately I missed it because I was busy with other things at that time.
My only trade was short around 1:45 EST, then I closed it out when price started making doji's at the 50 around 2:15 EST. I thought we might get a down move, given the divergences throughout the day. I also noticed what looked like breadth (ADD) showing a divergence when comparing the 11am and 2pm market highs, so that made me think a down move might occur. Did you see that too, or am I looking at the wrong thing? Anyway, those doji's at the 50 told me that a larger down move was not likely to occur there so I took my profit. Best regards.
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My only trade was short around 1:45 EST, then I closed it out when price started making doji's at the 50 around 2:15 EST. I thought we might get a down move, given the divergences throughout the day. I also noticed what looked like breadth (ADD) showing a divergence when comparing the 11am and 2pm market highs, so that made me think a down move might occur. Did you see that too, or am I looking at the wrong thing? Anyway, those doji's at the 50 told me that a larger down move was not likely to occur there so I took my profit. Best regards.