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We just received one of the biggest stock market crash indicators we’ve seen since the 2008 financial crisis.
A Bank of America Merrill Lynch note today shows the bank’s clients sold more than $4.1 billion in U.S. stocks last week. That’s the largest amount in any week since January 2008, according to analyst Jill Carey Hall.
And as this chart shows, most of that selling pressure came from institutional clients:
“After three weeks of net buying, institutional clients’ net sales last week were the largest in our data history,” Hall wrote in the note. Hedge funds were net sellers for the ninth consecutive week, while private clients bought stocks last week following the previous week’s net sales.”
Healthcare and financial stocks saw the most selling pressure, according to the bank.
Today’s news comes at a time when the broader markets are soaring. The Dow Jones Industrial Average set a record high of 18,351.36 in May and is up 1.7% in 2015. The NasdaqComposite hit its own record high of 5,163.42 yesterday morning.
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Read the rest of the post BREAKING: One of the Biggest Stock Market Crash Indicators Since 2008 appeared first on Money Morning. Reposted with permission.
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