New money entering long positions. Healthy bullish trend with conviction. More fuel behind the move — trust the direction.
New money entering short positions. Bearish pressure building. Could lead to a short squeeze or further continuation down.
Positions closing — liquidations or profit taking. The move is exhausting. Less fuel for continuation in either direction.
Abnormal volume = institutional activity. Volume spikes at tops or bottoms often mark reversals. Watch if OI changes direction after.