On Wednesday, we showed gave you a courtesy look at our 60 minute Institutional chart.

This morning, we will show you a current update of Institutional action in the Stock Market ...

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This is a 60 Minute chart on the top Institutional core holdings. 

Note that there has been a clear down trend that broke into a sideways range on July 14th.

At the close yesterday, this was the scenario for the past few days:

1. The Institutional "core holdings" index moved past the double resistance on Wednesday and closed right at the top of its sideways range resistance on Thursday. 

2. The trading range held because the Institutional index pulled back from that resistance yesterday.  The key as to whether or not it rises above it today will be the market's reaction to the Employment Report that came out at 8:30 AM this morning.

This was the News Headline this morning on the report:

Jobless Rate Rises to 4-year High- AP
"The nation's unemployment rate has climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs. Payrolls cuts, however, weren't nearly as deep as the 72,000 economists were forecasting. And, job losses for both May and June were smaller than previously reported."

*** Short term, the numbers were positive coming in 21,000 less than the consensus.  Longer term, the trend is moving higher.  The key for today is "how will Institutions play this?  Will they play the short term positive, or the longer term negative condition?  The answer will become clear on this chart at the close today.

(This chart has been posted daily on our Advanced subscriber website and is shown as a courtesy today for our free members again today.)

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