Stocktiming.com Friday, December 19th. - Stock Trends, Charts, and Commentary
"Concerning Institutional Buying and Selling actions ???
This morning, Bush pledged to lend as much as $17.4 billion to U.S. automakers. The markets did not embrace the announcement as wonderful news this morning.
In reality, the market has been struggling to get where is during the past week. There is a good reason for it. As you know, Institutional Buying and Selling activity is a major influence on the stock market.
Three weeks ago, Institutions started selling less. So much so, that the rate of decline of selling was dropping quickly. Their pull back on selling coincided with the market bottoming recently.
However, during the past two weeks, Institutions stopped the deceleration of selling and have maintained a steady pace without increasing or decreasing it very much. In other words, Institutional selling has been moving in a sideways range.
After Bush's announcement, at Noon time today, the rate of selling was a little lower than yesterday's and higher than the two previous days before that ... not very impressive (see the chart below).
Worse, Institutional buying was coming in less than yesterday's level ... and Institutional buying had already dropped yesterday.
Today is options expiration day, so there is a lot of unwinding going on. But, what will be important, is the buying/selling stance that Institutions take at the end of the day. That will be a clue as to what they will be doing on Monday.
(Today's chart is posted every day on our paid subscriber site. In fairness to our subscribers, we will not post this chart for another two weeks.)
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