[isatrader]

With the heavy end to the week I though it would be useful to look at the effective volume charts from effectivevolume.com to see if the institutions (large players) were more negative or postive that the small players.

I think it's clear that there has been a shift over the last week with more large player selling in the QQQ and SPY - which has taken the total effective volume flow below its 20 day MA in the QQQ and SPY, but IWM small caps is still holding up. So QQQ and SPY have turned negative and the IWM is around neutral currently.