That’s precisely what I’ve been saying. Check the earlier post I made. People are conflating a falling market with sellers being in control and I’m arguing that it’s instead buyers who are in control due to the bargain demand element.
The difference in our interpretations has to do with whether one is focusing on ends or in-between, ie. turning points or trends. What I see on the DOM, falls into the categories of Seller Demand, Seller Supply Buyer Demand, Buyer Supply These four have both Showing and Not-Showing. Showing, shows protection, the spoofing games on the DOM, and the Wall. Not-Showing are where the moves come from. They are filling the respective BbidBask supply via limit orders or just not adding. A different group of Not-showing are also sending market orders crossing the spread. This is the minority. This is the minority that is always in control. It’s only when they act that a market is made. Some of this minority is neutral and will change positions depending on context. Long and short isn’t a helpful bias as much as the notion of continue and change are. Others in this minority suffer from FOMO. The difference between the two is mostly distinguished by being on the right side of the market or not which leads back to the interpretation of context. Price only moves after limit orders are consumed by market orders or limit orders at BBidBask are withdrawn. This is a two-pair situation in that the dynamic is simultaneously occurring in both directions at once. There is balance and out-of-balance. Ranging is more like balance and trending is more like out-of-balance. A trend ends when the volume of market orders in a particular direction eating up all supply both not-showing and showing stalls and is overcome by market orders in the opposite direction out-pacing the prior direction’s ‘consumption.’ There is fake and real demand. Fake is flashing numbers and colors of limit orders constantly being added and canceled. Some are intentionally fake, others associated with positions that are exited. Real demand shows on the T&S. What to notice on the t&s is when change of pace occur. Change of pace is a signal of change.