I will be spending most of today flying back to North Carolina ... so I will make today's update short and sweet.

This morning, we will look at the recent and past Accumulation and Distribution actions by Institutional Investors.

Today's chart goes back to April 2008 and is very easy to read. If the green indicator is above zero, Institutional Investors are in Accumulation. If the indicator is below zero, they are in Distribution.

Then there are the conditions in between those, like now ... when Institutions are in decreasing Accumulation. At the close on Friday, Institutional Accumulation took a large drop and was getting very close to going into Distribution.

If you follow the indicator, it tracks very well with the NYA Index ... its no wonder, because Institutional Investors are responsible for over 50% of the market's volume. (Today's chart is shown as a courtesy to our free members.)