Finally after almost 2 months, the entire Commercial Real Estate sector is showing cracks. While SRS is not responding as positively as I would expect, the key is the entire CRE group is down significantly today. Sometimes SRS is a bit late to the game perhaps due to leveraging mechanisms so I expect to see SRS to perhaps have some sharp gains coming up.
This is the first day since mid-March that the entire sector showed weakness. Today's action on REITs has a similar look and feel to action we saw in February. The question is, will there be follow through?