What index future contracts have good trends on small timeframes such as < 5 min ER2 had good trends but due to the move I wont be trading that contract. I have been looking at ES a lot, but it seems more suited for some sort of counter trend strategy. Most of the moves are short lived and bounce back and forth a lot. When it does make a "trending" move it normally makes most of the move very quickly instead of steady. I guess what i'm looking for is which of the Index future contracts make the best prolonged grinding trends with the least pullback.
ES often "pops and chops." Many of the players may take a position and hope for a big buyer/seller to come along and make their position good. It may be more of a breakout play contract, possibly trending after the breakout. What about NQ, bond and currency futures?
This list is from another member and more than two years old. Even though it contains markets other than equity indexes and considers a time frame longer than your asking about it will give you some idea of trendiness. You might note that most of the popular indexes are at or near the bottom of the list. Trendiness Report starting Jan. 1996 ending Dec. 2005 at least 10 days in the trend 1. Mini Value Line 2. Nikkei Index 3. 90 Day T-Bill 4. Short Sterling 5. Japanese Yen 6. Palladium 7. Fed Funds 8. Australian Dollar 9. Goldman Sachs C.I. 10. Soybean Meal 11. British Pound 12. Platinum 13. CRB Futures 14. Euro 15. Pork Bellies 16. Swiss Franc 17. Dollar Index 18. Corn 19. Lumber 20. Eurodollars 21. Gold 22. NYSE Comp. 23. KC Wheat 24. Mexican Peso 25. Soybeans 26. Natural Gas 27. Cocoa 28. Feeder Cattle 29. Oats 30. Canadian Dollar 31. Orange Juice 32. Muni Bonds 33. Minn Wheat 34. Heating Oil #2 35. Copper 36. S&P 400 Midcap 37. Live Hogs 38. Rough Rice 39. T-notes 40. Unleaded Gas 41. Crude Oil 42. Russell 2000 43. Live Cattle 44. Soybean Oil 45. Cotton #2 46. Sugar #11 47. Silver 48. Wheat 49. Dax Index 50. Emini Nasdaq 51. T-bonds 52. S&P 500 53. German Bund 54. Coffee 55. Nasdaq 100 56. 5 YR T-Notes 57. Long Gilt Bond 58. FTSE 100 Index 59. Dow Jones Index 60. 10 YR T-Notes 61. Emini S&P 500