The one bad thing about using this data in your trading system is that it doesn’t update until late in the evening pst, so it’s impossible to make any trading decisions that require snap market action. However, this is a great confirming tool when you’re in a trade or trying to determine what’s going on behind the scenes with market internals.
This is extremely bearish with 94% of today’s volume being downside action. I’m glad that I opted to hold my shorts over the weekend despite the little blip at the end of the day. Personally, I think the market was just trying to sucker in a few more longs only to skewer them early next week.
Aren’t the markets fun?
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