A completely overlooked TedTalk by the financial world. From my understanding, what Mr. Preis discovered in the data proves the soundness of short term market predictability using only transaction data. This talk he gave was back in year 2011, before the 2nd talk he made in year 2013.
Notice Mr. Preis’ use of volume to identify strength in trend is consistent with modern techniques on trend identification. He also found that such behaviour in trend persists from millisecond timeframe all the way up in the higher timeframes.
