Not sure whether this would be better in another forum or not, however....

Most of my friends trade in the US but due to the time difference that is not possible for me so I trade the London Stock Exchange. One nice indicator that several of my friends use is a New High / New Low indicator, tracking the stocks that are making higher highs or lower lows and then plotting these on a daily or weekly basis. It is an excellent leading indicator of the market. However trading the LSE I cannot use this so I was wondering what another indicators people use to look at the market internals. I think every trader, other than very short term, should have some method to look at the direction of the overall market. Any ideas what I could look at for the LSE / FTSE?