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# 1 - You got that exactly, the only thing is that it's necessary to watch price at the same time, i.e. "volume/price divergences" as I've called that previously.
# 2 - Again, correct, that peaks, what are they ? Have you watched price behavior after that peaks ?
Krgds,
Andrew
Can you help answer these questions from other members on NexusFi?
BTW the current COT reports show the smart money is selling, quite a lot. So that provides a directional bias. When we see the HVC bars we cannot really know if it's accumulation or distribution. But usually if HVC is after a move up it's distribution because the pros do not chase the market (usually!). Also the COT showing smart money selling will also support the view of distribution.
Friday the market moved up quite a bit. My personal view is that the pro's are suckering in longs and forcing shorts to cover before a down move next week, possibly Monday.
P.s. Cunparis,
That's why I prefer some "simple" contracts apart from ES, as it's, at my opinion, too much synthetic, i.e. universe of SP instruments is huge, lot of trades are done as hedging or whatelse, like that example, buy 1 SP - sell 5 ES, etc, etc.
But still even for that, think "raw volume" shall help to see more or less correct picture.
As nobody can change price/volume correlation and divergence, it's pure physics.
That's what I use to import the data into tradestation. I then process the raw data. In the book he talks about using a stochastic formula on the raw data.
Have you watched price behavior after that peaks ? 
