More outflows
According to Lipper, investors pulled nearly $15 billion from equity funds over the past week, the most since mid-June. According to the Backtest Engine, there have been 28 weeks with an outflow greater than $14.5 billion. Three months after those signals, the S&P 500 was higher 22 times, averaging 5.3%. The biggest failure was earlier this year, when a big outflow in February wasn't enough to prevent a further meltdown into March.