For your interest, I have computed the 1-min Green/Red bars transition matrices for NDX & RUT. The result is:
RUT
R G
R 67% 33%
G 26% 74%
NDX
R G
R 48% 52%
G 44% 56%
For RUT, if the current bar is red, it is about 2/3 of the chance the next bar will be red as well, green to green about 3/4. The trend is much stronger than NDX where the transition matrix has entries basically random.
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