A Look at TFlow and the FOMC Announcement
TFlow is CQG’s innovative charting style that is color coded to track traded volume at the ask price versus bid price. The high and the low of the TFlow bar is the best bid and ask prices. The TFlow bar is colored green for the percentage of volume at the ask price (buying) and red for the percentage of volume of trades at the bid price (selling). For more information on TFlow, please see the article list.
The chart is using the 5-tick aggregation.
Prior to the FOMC meeting trading was a two-way market. Following the announcement traders rallied the market. The TFCross was positive indicating buying. Then, sellers came in and the market broke support. Breaking support did not attract an increase in selling pressure as the TFUMinusTFD diverged. Traders then stepped back in and took the market up into the close. The TFCRoss buy line (green) went above the sell line (red) for most of the rally.
Today, the market opened higher, but sellers came in and took control.