Recent insider sentiment has trended for the better one week and for the worse the next. In our weekly review of insider-transaction data from Vickers' Stock Research this week, there is improvement. Vickers' benchmark NYSE/ASE One-Week Sell/Buy Ratio is now 5.18, better by 147 basis points (bps) since last week -- but nowhere near the 2.50 reading that would move the indicator to neutral from the current bearish result. The NYSE/ASE Eight-Week reading is now 5.73, better by 17 bps since last week. Adding insider transactions from the Nasdaq, Vickers' Total One-Week Sell/Buy Ratio is now 5.62, an improvement of 85 bps, and the Total Eight-Week Sell/Buy Ratio is 6.23, better by 25 bps. Looking at sales and purchase transaction volume, we note that the total number of sales transactions that met the criteria for inclusion in Vickers' Weekly Insider Report this week is down by 6% since last week. The total number of purchase transactions is up by 8%. NYSE sales transactions are down 14% and purchase transactions are up by 4%. Nasdaq sales transactions are down 1% and purchase transactions are up 5%.

Blue Chips finished the 2/26/2021 week with more selling, although the hardest-hit part of the market (Nasdaq growth stocks) staged a feeble rebound on Friday. The market is not in freefall, but the S&P 500 is down 3.2% from its all-time high of 3,935 reached on 2/12/21. Pullbacks and corrections are commonplace, but this one feels different because of the trend in long rates. Still, investors always say 'this one feels different' until it's forgotten in the next pullback.