This is a very negative indicator for the direction of the stock market. It is not a “timing indicator” but rather suggests that when and if the stock market does enter a bear phase, it will go down far more than normal. Historically it was a very good timing indicator, but lately it has not been.   Last week insiders (the officers and directors) sold $690,896,754 worth of their own (personally owned shares) companies’ shares. That is the third largest total that we have seen reported over the last fifteen years. At the same time they bought slightly over $63,012,466 of their own companies’ shares. The brokerage industry and the companies themselves do not want to see these sell numbers publicized for obvious reasons as they send out very bearish warnings that can discourage the public from investing. Again, insiders are unloading their own shares at a very high rate in terms of  dollar value. Few investors pay attention to this indicator-we do.