RE:516 bids vs 202 asks Not at this moment a good sign but it can change in a blink of an eye.
"Many traders like looking at the cumulative number of shares being offered at each level. If there is an imbalance, that may denote which side the market is leaning toward with respect to a particular security or asset. Traders may also look at the size being offered at the bid and ask to obtain a general understanding of where the market is likely to head.
In this particular example, there are more shares being offered on the ask side (left-hand side), denoting that buyers are, in effect, more powerful than sellers. Accordingly, this might inform a trader of a bullish bias insofar as the Level II data / order book wager into the decision-making process."