Broker data for the past month.
Here is the accumulation chart for a group of retail investors.
Retail investors continue to buy, with accelerated buying over the past month. This suggests that professional investors are selling aggressively, taking advantage of the recent price increase.We’ll see if the latest news shifts sentiment among professional investors.
Here is another chart - the accumulation/distribution chart for a subgroup of professional investors: investment banks (Citigroup, Goldman Sachs, Macquarie, Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS).As you can see, there has been significant selling since the tariff announcement.
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