Cumulative Delta, all trades, today

Unlike the filtered institutional volume in the previous example, here is what today has looked like for all traders in the world trading ES. Note the big shift in cumulative order flow just before the market broke down. As you can see, order flow analysis is the one and only true story about what is happening in the market. Everything else is merely conjecture, but order flow represents actual behavior and sentiment among the real people placing the trades. Very important stuff.

Order Flow Support and Resistance

More Institutional Selling at the High