Since ES took a bit of a spill downward, the trade size that has been single contracts nearly all day just changed dramatically, it's worse than this , but moving fast.
Not sure where ES is in relation to VWAP, I'm guessing around or above the 2nd standard deviation so yes, if you are trading ES institutional size, you want to sell , even if it is starting to move down.
All day I have seen 1 or 2 contracts, occasionally 5, here we have 20, 62, 16, 11... I just saw 42 and 50 go by and these are not cheap contracts.
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