February 23, 2014 5:00 PM
Despite a series of economy data points that would seem to indicate that US growth has been slowing, investors may be waiting before they get worried. But if data comes in weak over the next two weeks, the wait could be over.
"This week's going to be an interesting one, because the economic data that's come out has been a little goofy, and yet the market just keeps pushing higher here," said Brian Stutland of the Stutland Volatility Group.
Indeed, the S&P (^GSPC) booked only a slight loss in the past week, despite the fact that several important economic numbers have fallen short of expectations.
Existing home sales in January were nearly nonexistent, with the Friday-released number missing expectations and coming in at an 18-month low. A similarly bad housing number came on Wednesday, when the Commerce Department reported that housing starts fell 16 percent in January.
On Tuesday, the Philadelphia Fed manufacturing index came in at negative 7.3, indicating worsening conditions as if fell far short of estimates. Tuesday's Empire State manufacturing survey also disappointed.
READ MORE: http://finance.yahoo.com/news/us-real-trouble-were-220000446.html