See Institutional "Core Holdings" chart below.

We recently reported on the Institutional Index and how it was losing steam.

Below is a Point & Figure chart of the aggregate "core holdings" owned by Institutional Investors. From December of 2013 to the end of September 2014, the Institutional Index of core holdings held inside its rising channel ... until October 2nd. when it breached the support line for the rising channel.

That marks a stress level in the market that needs to be followed closely as risk levels are now elevated.