Note that today's merchandise has seen both high in addition to depression readings inwards NYSE TICK (bottom chart), indicating a relative standoff betwixt buyers in addition to sellers later nosotros traded to bull highs inwards the morning. I similar to nautical chart the 20-period moving average of TICK (blue line, bottom chart) to run into how it trades relative to the nil level. As nosotros tin see, nosotros bring pretty much hugged that nil degree all day. That is typical of attain markets (ES futures, overstep chart), whereas tendency markets volition exhibit the moving average of TICK persistently in addition to significantly higher upwards or below that nil line.
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