Bid and Ask Size at a bottom?

["John Clemens" <jbclem@xxxxxxxxxxxxx>]

At 12:09 PST, the ES1M was retesting a local bottom tested 3 times about 40
minutes previously.  I was watching the bid and ask size closely(1st time
I'd done this) and saw this interesting situation: the bid and ask prices
stayed at 1224.00 for a good part of a 5 minute period, the bid price
especially did not budge from 1224.00.  At the same time the ask size, which
usually jumps around between 1 and 50-100,  stayed in the 400 range for the
entire period.  The bid size was in its low range, 1 to 50-100(don't hold me
to these numbers but they are faily accurate).  I'm using BMI satellite for
data.

Logically, with such a large number of sellers for such a period, I was
expecting to see the bid price dip below the 1224.00 level as someone tried
to entice a lower price, but it didn't happen.  1224.00 was written in stone
and after the 4-5 minutes the market moved up a bit and then came down and
tested 1224.00 again.

Would someone like to comment on this?  Is the bid and ask size unreliable,
or am I misunderstanding this situation.


John