The chart grid below shows 30 min (market hours only) charts of YM, ES, NQ & TF. As can be seen, a small opening gap down has been left unfilled on today's action on all except NQ which lagged the initial decline.
The chart grid below shows 60 min (24 hour) charts of these 4 e-minis. Overlayed on the charts is a regression channel. As can be seen, a fair amount of consolidation has taken place just above and below the channel "mean" (broken pink line) and within the horizontal white lines. It remains to be seen as to which direction the markets will finally commit...either above or below these compressed zones.
As long as these markets stay locked within these levels, it is my opinion that neither the bulls nor the bears are in control and they will continue essentially in a sideways movement until a breakout and possible retest occurs (i.e. above 12780 or below 12525 on YM, above 1360 or below 1328.50 on ES, above 2415 or below 2363 on NQ, and above 855 or below 823 on TF). As a daytrader, I'll have to find "levels within these levels" to assess during market hours until a solid breakout occurs.