Note how the moving average of the NYSE TICK (blue line; top chart) has stayed below the zero level (orange line) for most of the morning. Similarly, we've seen much more volume in the ES contract hitting bids vs. lifting offers (bottom histogram; bottom chart). When we get directional signals from both indicators, that's when we're most likely to see trending trade.
I see Henry Carstens has consolidated his trend identification tools; excellent decision support.
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