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Trading Indices and Level-2 Data

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I've been trading Indices, specifically USTech100 and Dax40 for some time. I've also been reading a lot about level-2 data for which the examples are always for specific stocks. I'm fairly new to level-2 so please bear with me,

Is there a way of using level-2 to help with Tech100 and Dax40 day trading? I was thinking that getting level-2 data for a NASDAQ tracker ETF such as QQQ would help. And a respective DAX ETF too.

There is a further issue I see if I sign up to level-2, most of the time it's going to be UK level-2 which means I'd have to follow a UK ETF, perhaps CDNX and XDAX. Will these be decent proxies though for the market as a whole? Should I actually start trading CNDX rather than Tech100?


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