  The $T=0$ dynamics of the two-dimensional $s=1/2$ Heisenberg model with
competing nearest-neighbor $(J_1)$ and next-nearest-neighbor $(J_2)$
interactions is explored via the recursion method, specifically the
frequency-dependent fluctuations of the order parameters associated with some
of the known or suspected ordering tendencies in this system, i.e. N\'eel,
collinear, dimer, and chiral order. The results for the dynamic structure
factors of the respective fluctuation operators show a strong indication of
collinear order at $J_2/J_1 \gtrsim 0.6$ and a potential for dimer order at
$0.5 \lesssim J_2/J_1 \lesssim 0.6$, whereas the chiral ordering tendency is
observed to be considerably weaker.
