Real Estate Watch

The rolling real estate cloud continues to hang over the market as increases in prime mortgage delinquencies are being reported in an article by the New York Times today. Just how long and deep the slow down in all sectors of the economy will be is what the markets are trying to determine at this mid point of the price range since the lows of July 15. Indexes are still somewhat oversold as the prevailing bearish attitude toward price remains intact. Fed announces tomorrow in what is widely expected to be a hold with all attention on the verbiage contained in the release. Bulls need to pony up this week or be dragged down into a real test of the lows.