From our friends Goldman via Zero Hedge:

Delinquencies and Foreclosures Rise Again

Data just released by the Mortgage Bankers' Assn show that more than one-tenth of all US mortgages are delinquent, a new record high. Homes in foreclosure edge up slightly as well. One caveat: the increases are driven by seasonal adjustment, which should probably be taken with a grain of salt given the huge shifts in this sector over the past few years.

Mortgage delinquencies:...

Fibonacci time extension lines are suggesting that a possible pivotal time junction is upon us.

This is not an exact science, but my fib projections did manage to nail the March lows and at least two more minor market peaks.

As you can see in the chart, not every time projection panned out.

There is another fib time zone approaching next week. While this may not mark the exact peak, this signal should be used to hedge yourself if you are long, or if you...

While over extended markets can remain over extended, eventually they always do fall.

The S&P may be due for a pull back soon though.

Thelongranger posted this chart yesterday:

There was a great post by Mr Winky in the stock market discussion thread which I feel needs to be repeated:

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