http://www.zerohedge.com/news/2016-03-19/buyback-blackout-period-starts-monday-institutions-selling-stocks-7-straight-weeks-w
BofA's summary: "clients don’t believe the rally, continue to sell US stocks" and they were selling specifically to corporations whose repurchasing activity is near all time highs: "buybacks by corporate clients accelerated for the third consecutive week to their highest level in six months, which is also above levels at this time last year."
Next week this "accelerating" buyback activity ends, and the question will be whether the S&P at a high enough level to give institutional investors comfort that without the buyback bid, in fact the only bid for the past seven weeks
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