about an indicator for market value buy/sell ratios

[cwest@xxxxxxxxxxxx]

Amongst the data that I subscribe to, I noticed a not-so-fundamental study
of "market value buy/sell ratios" of sectors and indexes. Presumably the
ratio is the value of shares sold divided by the value of shares bought.
Visually, an interesting observation over several years of historical data
is that when the ratio exceeds or falls below a perceived smoothed standard
deviation of the SPX for example, within a month or so prices fall or rise,
often considerably (in relative terms). Can an indicator that reflects this
observation be constructed using the data the TS receives, or is it
necessary to bring the data into TS in another way?

Thanks in Advance
Colin West