I decided to install John Carter's benchmarks (+/- 600, 800, 1000 and 1200) on the $TICK chart. The paintbar indications are nothing more than green when the close is greater than the previous close, and red when it is less. As you can see, the 6 period EMA of the $TICK pivot (H+L+C/3) was less than zero all day. Additional reading on the $TICK indicator can be found at TraderGav.
The vertical lines are located at 1320 ET and 1450 ET, which indicates a downtrend period for the ES Futures following the lunchtime sideways consolidation period. The market tends to move after 1315 ET, but sometimes stays quiet until 1400 ET. Each day is a little different.
On Friday, the $TRIN and NYSE Advance - Decline Line turned negative at about the same time around 1320 ET, and continuing the negative mood of the morning trading.
On the 380 tick chart of the ES Futures, the MACD of the On Balance Volume also turned negative at 1320 ET, while the futures broke below the lunchtime pivot low.
So all indicators were in agreement indicating an afternoon downtrend for the ES market.
Charles
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