I don't know how it is in stocks and futures anymore since now all I'm trading is forex, but I can tell you, something is always trending. It may be nothing but chop on the daily, but a beautiful trend will appear on the two minute. And same thing, the five minute may be up and down, but the hourly shows you a nice trend. Most of us got into trading with the idea of trading the chop, since most of the time that's all markets do. But once you catch a trend you start looking for them. At anyrate, something is always trending on some time frame.