Last week was the biggest week for institutional buying all year. The TICK detected institutional buying on Wednesday at market open, Thursday at market close, and Friday at market open and at market close.

Tracking financial press releases down to the 15 minute period in which institutional trader buying began, we can get inside the minds of institutional traders and see what matters most to them by filtering out all the other noise.

Most likely causes of institutional buying on Wednesday, Thursday, and Friday were:

June 27th Wednesday – Durable goods report released that showed orders for durable goods climbed. Pending home sales report released an hour later than showed home sales surged in May to a 2 year high.

June 28th Thursday – Markets weak for the first half of day as Germany’s Angela Merkel was set for press conference announcing no deal reached. Right before the press conference, Merkel canceled and returned to negotiations. Institutions traders began buying in anticipation that Merkel canceling the press conference meant some type of deal had been reached.

June 29th Friday – European leaders strike deal and markets soar as massive institutional buying and short covering take place.

Song: The One That Got Away
Album: Wall Street – Working On the Edge
Artist: Lance Jepsen
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