ST trend: neutral
Yesterday we also noted that the trend was neutral, because after a prolonged up trend, FGSI was showing that both buyers and sellers were inefficient. We had bullish excess energy (EE) triggering on declines and and bearish EE triggering on bounces. However it was the buyers who took the lead again by breaking the bearish EE level. They also defended the 3886 ES level, which was the breakout of Buyer Exhaustion (BE) Xtick and the Maginot Line (ML) level.
Today FGSI is showing almost the same set-up like yesterday. Sellers are very inefficient, triggering bullish EE on each decline. However also buyers are showing inefficiency on bounces. So the 1st signs of one side taking the lead would be when they manage to break through an oppossing EE and make confirmed lows/highs.