Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Bank of America Update

|Includes: Bank of America Corporation (BAC), C

 Check out how tight the boilinger bands are on the 1 minute chart for BAC. As it is confirmed by the Shiller Index and the most recent housing report from, it seems as though real estate is now in a definitive double dip mode. BAC, one of the largest mortgage writers is facing higher and higher default rates. It will be interesting to see how the largest bank by market cap will try to move around a shrinking balance sheet this time. Look for an intra-day breakout either to the upside or downside to retest 10.94.