depth of market - thin vs. thick offered liquidity

here is an interesting situation on depth of market (dom) in intermarket state. it is easily visible that the offered liquidity on the bid side is much thinner that on the ask side.

the presumption is that the price should move into the side of thinner liquidity - it is going to be easier, as there are no "walls" of waiting limit orders. 

it is just a presumption now - no data have been collected to prove this idea.

what we have to take into account in such a situation is the intermarket state and the predictability of retail market orders. here we have ym under the daily low, all other markets are above.

it gives the (stupid) retail traders feeling that ym is cheap and that they should buy it. they start buying.

limit side with quoting market maker´s orders builds thicker layers of sell limit order to retard the movement up and sell in a bigger quantity against the retail public. the movement down is much easier because the quoting buy limit side is weaker.

this is how the situatuion looks at market orders with depth of market. the offered liquidity on dom overtuns and the price sinks into it

what happened next was that the price dropped down against the buying public. in this particular case it would have hit o the first target only but it doesn´t matter - there was a strong buying sentiment on nyse tick at that time and even thought the price went down to hit the stops of public..

here is the footprint chart of this situation

more in depth study of this phenomena needs to be done before taking these situation as a tradable edge