Quote from Eko_Trader:
Good point. But would you advocate buying at here?
usually on a trend day you want to buy the dips, my point was about expecting the market to reverse on a trend day. If you recognize it is a trend day and it is too expensive then sit on your hands.
Here is a chart with es spike, 48,154 vol up, 25,999 down vol that is net positive 22,155, now were all of those contracts one buyer no, but net it is enough to make this move. This is the basic idea of market delta.