Q: What is the MM wall or the resistance point on a Level 2 quote? A: The wall is where one or more MM's are sitting at the same Ask price with large Ask sizes. It usually takes a lot of buying pressure to break through that point. When you see a wall creeping up the Level 2 display during a run it may be a good time to sell.
Q: Why does it mean when someone says the MM's are walking the price down? A: An MM, investment group or large investor will throw small sells at the bid to drive the price down before accumulating a large amount of shares. They may also drive it down before they cover a short position. Watch for small trades like $5 to $20 at the Bid. There is nothing wrong with the stock, just someone taking the price down to buy cheaper shares.