Holding … but susceptible. That describes the market now as we await a challenging week and a speech (today) by Prime Minister Theresa May where the expectation is that she will say that Britain won’t be “half in or half out” relative to Brexit. That could mean a hard Brexit landing which could have negative repercussions here in the U.S.
For today’s chart, we will look at the trending of Institutional Investor Selling. When you look at the chart below, note that the Institutional Selling has been vacillating and trending sideways for almost a week now. (Friday ended with Institutional Investors Selling less from a trending standpoint, but they are still in a sideways pattern which means that they can easily and quickly change to any direction this week.