The insitutional trend of Nike is mildly bullish heading into Q3 earnings after the close today. Following the positive spike at 1 and the lesser selling that followed, the Demand Chart of Nike reveals three minor institutional buying spikes (positive spikes 2 through 4) prior to earnings. Big news of Bill Ackman dumping his entire position prior to the report appears to have had no impact on the small demand imbalance currently in the stock indicating that there was ample demand to offset the sale.