I do look at level 2 quotes to get a sense of what's the overall market for the stock up and down on the list of bids and asks. But most important is the present Bid and ask.
You always want to see bigger bids than asks.
Big asks mean someone wants out.
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Depth of market (DOM) is a measure of the supply and demand for liquid, tradable assets. Based on the number of open buy and sell orders for a given asset such as a stock or futures contract. The greater the quantity of those orders, the deeper or more liquid, the market. twitter.com/GaryBlades/sta…
