Do you remember last week, when we commented that Richard Fisher (of the Dallas Fed. Reserve) said that the Fed should cut bond buying activity fast ... even if the stock market tumbles? Some think there was a connection with the market's drop, but the other Fed members don't want to lose the progress they have made with the use of QE money ... the fear is that a serious down move to a Bear Market would move us back into a Recession.

Keep in mind that this is a big earnings announcement week with Amazon and Google reporting after the close tomorrow (Thursday).

Let's move on to today's chart that shows the trend of Institutional Investor selling activity. Note that the Institutional Selling was still in an up trend yesterday. There was improvement with a daily down tick, but not enough yet to change the trend to a down trend in selling yet. (See the chart below.)

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