So what conditions would merit outright panic from Democrats?

They should keep a close eye on North Carolina and Kansas. These states have been moving toward Democrats in our forecast, helping them offset Republican gains elsewhere.

But these are also races in which the Democrat is doing better than the “fundamentals” of the states might suggest. The Democratic incumbent in North Carolina, Kay Hagan, is pretty clearly ahead in the polls today (including in a CNN survey that was released on Sunday). However, two other states with vulnerable Democratic incumbents, Colorado and Alaska, have shifted toward Republicans. Perhaps if the Republican challenger Thom Tillis can equalize the ad spending in the Tar Heel State, the polls will show a more even race there as well.

And the Kansas race is still in its formative stages.