Real estate which rang bell on 2007 peak, concerning again as REITs break below support:Chart of the Day

Real estate is just as much a canary in the coal mine, as the banks are. So this news from "Chart of the Day" looks concerning. I'm not going to give up on the possibility of equities poking a new high later this year. Just as they made a later high in 2007. But for now, when the trend is down, it doesn't hurt to take a look at this info on the REITs - since real estate plays such a central role in our economy's health:

http://www.chartoftheday.com/20100122.htm

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January 22, 2009 Chart of the Day - REITs break below support While the market has rallied sharply since March 2009, some sectors have begun to break below support of their post-crisis uptrend. One such sector is the all-important real estate sector. For some perspective, today's chart illustrates the current trend of the Dow Jones Wilshire REIT Index. While REITs have been trending up sharply for ten months, REITs currently trade 50% below their February 2007 peak. As today's chart illustrates, the Dow Jones Wilshire REIT Index has just broken below support (green line) of its upward sloping trend channel. Notes: - The market is at a critical juncture. Where we go from here may surprise you. Find out right now with the exclusive charts of Chart of the Day Plus. Rate today's Chart of the Day Excellent 5 4 3 2 1 No good By voting every day you help us get you the charts you want to see. Quote of the Day "Don't confuse brains with a bull market." - Humphrey Neill Events of the Day January 31, 2010 - Grammy Awards - NFL Pro Bowl February 02, 2010 - Groundhog Day Chart of the Day is provided without warranty of any kind and accepts no responsibility for its accuracy or for any consequences of its use. Journalists and bloggers may post the above free Chart of the Day on their website as long as the chart is unedited and full credit is given with a live link to Chart of the Day at http://www.chartoftheday.com .