“It's important to keep in mind that several days of institutional selling, whether it's in a stock or an index, can presage more of it down the line…Few investors knew what lay ahead for the market in the second half of 2008, but the Nasdaq composite fired some warning shots with five higher-volume declines from Aug. 19 to Sept. 4….The Nasdaq sank more than 40% over the next 11 weeks. By March 2009, it fell 50% from its April 2008 high of 2551.39.”
…"A slowdown in the Chinese economy doesn't help the outlook for the U.S. particularly, but American growth isn't entirely dependent on what happens in China," said Philip Shaw, chief economist at Investec…
…U.S. growth picked up in the first three months of the year, boosted partly by a recovering housing market, though the pace is expected to drop off in the second quarter.” Story at…
Friday, the S&P 500 was up 0.27% to 1592 (rounded).
The NTSM system sold at 1575 on 16 April. (This is just another reminder that I should follow the NTSM analysis and not act emotionally – I am under-performing my own system by about 2%!)